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Answer Posted / jalal
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explain what is fifo?
The program will first compute the tax you owe based on your income. User is prompted to enter income. Program will compute the total amount of tax owed based on the following: Income Tax 0 - $45,000 = 0.15 x income $45,001 - $90,000 = 6750 + 0.20 x (income – 45000) $90,001 - $140,000 = 15750 + 0.26 x (income – 90000) $140,001 - $200,000 = 28750 + 0.29 x (income – 140000) Greater than $200,000 = 46150 + 0.33 x (income – 200000) Dollar amounts should be in dollars and cents (float point numbers with two decimals shown). Tax is displayed on the screen.
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