Compute Fictional Taxes

Design and write a complete C program including adequate comments to compute the income tax due for a given (taxible) income. Your program must prompt the user to input the amount of income to be taxed. Then your program should calculate and display the tax due.

The formula for computing the tax is:

Income | Tax Rate |
---|---|

0.00 - 10,000.00 | 15% |

10,000.01 + | 50% |

For example if the income amount entered is $12,000.00, then the tax due is 15% of $10,000 plus 50% of $2,000.00, or $1,500.00 + $1,000.00, or $2,500.00.

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