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Custom Functions

Calculating Total Income Tax

Problem: We want to use variable-rate Taxable Income Brackets to calculate a person’s total income tax. Solution: Use the INDEX, MATCH, and LOOKUP functions as shown in the following formula: =INDEX(TaxTable,MATCH(C13,Bracket),3)+(INDEX(TaxTable, MATCH(C13,Bracket)+1,2))*(C13-LOOKUP(C13,Bracket)) Screenshot // Calculating Total Income Tax 

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