Question
The tax rate for an individual depends on the income. The tax rates are decided as follows: a. If the income 1 million dollars or
The tax rate for an individual depends on the income. The tax rates are decided as follows:
a. If the income 1 million dollars or more, the rate is 40%.
b. If the income is less than 1 million dollars but greater than or equal to 500,000 dollars, the rate is 35%.
c. If the income is less than 500,000 dollars but greater than or equal to 100,000 dollars, the rate is 30%. d. If the income is less than 100,000 dollars but greater than or equal to 50,000 dollars, the rate is 20%.
e. If the income is less than 50,000 dollars, the tax rate is 0%
Write a python program that asks the user to enter the income and displays the tax rate.
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