Question

Consider the following income tax brackets. Income ($) 0 - 10,000 10,000 - 25,000 Tax 0% 5% on amount exceeding 10,000 $750 + 8% on amount exceeding 25,000 $2,750 + 10% on amount exceeding 50,000 $7,750 + 15% on amount exceeding 100,000 $67,750 + 25% on amount exceeding 500,000 25,000 - 50.000 50,000-100,000 100,000-500,000 > 500,000 250 Thus, if the income is $70,000, then the fourth bracket will apply and the tax will be Tax = $2,750 + 10% on amount exceeding $50,000 = $2,750 + 10% on ($70,000-$50,000) = $2,750 + 10% on $20,000 = $2,750 + $2000 = $4,750 (a) Create a function called tax_calculator that computes the tax for any income. Thus, your function should have the input argument as the income, and the output will be the calculated tax. Use if/elseif/else commands to build this function. (b) Display your function in a live-script using type. (c) Call your function from the live script with the following incomes: 5,000 12,000 33,000 75,000 300,000 1,000,000 (d) Create a table-matrix with the first column as the incomes indicated above, and the second column as the corresponding tax. (e) Print the table-matrix with fprintf with appropriate column headings and title.

A code in matlab. (maybe Jammer can answer)?

Answer 1

`Hey,

Note: If you have any queries related the answer please do comment. I would be very happy to resolve all your queries.

clc%clears screen
clear all%clears history
close all%closes all files
format long
I=[5000,12000,33000,75000,300000,1000000];
M(:,1)=I(:);
M(1,2)=tax_calculator(5000);
M(2,2)=tax_calculator(12000);
M(3,2)=tax_calculator(33000);
M(4,2)=tax_calculator(75000);
M(5,2)=tax_calculator(300000);
M(6,2)=tax_calculator(1000000);
fprintf('\tIncome\t\tTax\n\n');
for i=1:size(M,1)
fprintf('%8d%10d\n',M(i,1),M(i,2));
end
function y=tax_calculator(x)
y=0;
if(x<=10000)
y=0;
elseif(x<=25000)
y=0.05*(x-10000);
elseif(x<=50000)
y=750+0.08*(x-25000);
elseif(x<=100000)
y=2750+0.1*(x-50000);
elseif(x<=500000)
y=7750+0.15*(x-100000);
else
y=67750+0.25*(x-500000);
end
end

Kindly revert for any queries

Thanks.