Function taxamount this function computes and returns the


Write a program that can be used to calculate the federal tax. The tax is calculated as follows: For single people, the standard exemption is $4,000; for married people, the standard exemption is $7,000. A person can also put up to 6% of his or her gross income in a pension plan.

The tax rates are as follows: If the taxable income is:

  • Between $0 and $15,000, the tax rate is 15%.
  • Between $15,001 and $40,000, the tax is $2,250 plus 25% of the taxable income over $15,000.
  • Over $40,000, the tax is $8,460 plus 35% of the taxable income over $40,000.

Prompt the user to enter the following information:

  • Marital status
  • If the marital status is ‘‘married,'' ask for the number of children under the age of 14
  • Gross salary (If the marital status is ‘‘married'' and both spouses have income, enter the combined salary.)
  • Percentage of gross income contributed to a pension fund

Your program must consist of at least the following functions:

a. Function getData: This function asks the user to enter the relevant data.

b. Function taxAmount: This function computes and returns the tax owed. To calculate the taxable income, subtract the sum of the standard exemption, the amount contributed to a pension plan, and the personal exemption, which is $1,500 per person. (Note that if a married couple has two children under the age of 14, then the personal exemption is $1,500 * 4 = $6,000.)

Solution Preview :

Prepared by a verified Expert
Basic Computer Science: Function taxamount this function computes and returns the
Reference No:- TGS01691946

Now Priced at $20 (50% Discount)

Recommended (94%)

Rated (4.6/5)