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What would be the Excel IF Statement that would be inputted to find the Tax Rate for each level of Employee Income? For this example,

image text in transcribedWhat would be the Excel IF Statement that would be inputted to find the Tax Rate for each level of Employee Income?

For this example, if employee income is: If income is less than $29,701, then the tax rate is 15%; else if income is greater than or equal to $29,701, but less than $71,950, then the tax rate is 25%; else if greater than or equal to $71,950, then the tax is 28% Employee Income Tax Rate $ 35,000.00 $ 21,000.00 $ 80,000.00 $ 100,000.00

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