You are given the following tax schedule for a single individual. If Taxable income is between Tax Rate 0-9,700 37% 9,701 - 39,475 35% 39,476 - 84,200 32% 84,201 - 160,725 24% 160,726 - 204,100 22% 204,101 - 510,300 12% 510,301+ 10% i. Using the above schedule, how much tax would someone whose net taxable income after all deductions is $200,000 pay? Assuming an individual filer. ii. Now assume a progressive taxation system. How much tax would s/he pay now? iii. How much is the difference between your answer from part (a) and part (b)? Why is that the case? (5 points) iv. Make a case for how an increase in marginal tax rate can help promote income inequality.