You're a finance analyst computing federal income tax for 8 sample taxpayers. Column A holds annual income. The bracket schedule (simplified, marginal rates):
| Income range | Marginal rate |
|---|
| $0 – $10,000 | 10% |
| $10,001 – $40,000 | 12% |
| $40,001 – $85,000 | 22% |
| $85,001 – $160,000 | 24% |
| $160,001+ | 32% |
Tax is progressive, not flat — each portion of income is taxed at that bracket's rate, then summed. Pre-computed cumulative taxes at each upper boundary (use these to short-circuit the math):
| Income at bracket top | Cumulative tax |
|---|
| $10,000 | $1,000 |
| $40,000 | $4,600 |
| $85,000 | $14,500 |
| $160,000 | $32,500 |
So for income I in the 22% bracket: tax = $4,600 + (I - $40,000) × 22%.
Your task:
- In column B (Total Tax), write an IFS that returns the right progressive tax for each income.
- The formula must drag-fill from B2 → B9.
Graded cells: B3 ($15,000), B4 ($50,000), B5 ($120,000).
Open this problem on a desktop to attempt it.