Below is a personal income tax table effective January 2024 Tax Threshold (K) Tax Payable (K) Rate of tax access (%) 12,500 Nil 22 20,000 1,650 30 33,000 5,550 35 70,000 18,500 40 250,000 90,500 42 a) Glen who runs a printing shop earns a profit of K80,000 and received additional rental income of K80,000 and intrests of K15,000 I. What is the assessable amount for tax II. Calculate the amount of tax she’ll pay b) Kila, Ranu and Raka decided to enter into business under a partnership by contributing K20,000, K50,000 and K30,000 respectively I. Calculate the shared profit Kila and Raka received c) Sales results for ANJ Ltd declined over the years due to reduction in production awareness I. How would the management improve the declining situation?

Step 3 (3 pts). Calculate tax amount based on exemption and taxable income (see tables below). Tax amount should be stored as a double and rounded to the nearest whole number using round(). Submit for grading to confirm eight tests pass.Ex: If the input is:20000 23 500 1 400Ex: The additional output is:AGI: $20523Deduction: $12000Taxable income: $8523Federal tax: $852Income Tax for Single Filers$0 - $10000 10% of the income$10001 - $40000 $1000 + 12% of the amount over $10000$40001 - $85000 $4600 + 22% of the amount over $40000over $85000 $14500 + 24% of the amount over $85000Income Tax for Married Filers$0 - $20000 10% of the income$20001 - $80000 $2000 + 12% of the amount over $20000over $80000 $9200 + 22% of the amount over $80000

(b)i. Upul has to be paid Rs. 1400 rates per quarter for his business building located within a municipalarea. Find the assessed value of the building if the rate of annual assessed tax levied by themunicipal council is 8 %.ii. The municipal council will deduct 10 % of total assessed tax for the year if paid in total before 31stof January of that year. If Upul pays the above tax in total before 31st of January find the amount ofassessed tax he will pay

The municipal council will deduct 10 % of total assessed tax for the year if paid in total before 31stof January of that year. If Upul pays the above tax in total before 31st of January find the amount ofassessed tax he will pay

To help Alice, a new property owner in a city, calculate the property tax, let's create a simple program. Implement a function called propertyTaxCalc, which takes the assessed value as an input argument. The function should determine the taxable amount by subtracting 8% from the assessed value and also calculate the property tax by applying a tax rate of 1.05% to the taxable amount.Input format :The input consists of a double value that represents the assessed value.Output format :The first line displays "Taxable Amount: " followed by a double value, representing the taxable amount with two decimal places.The second line displays "Property Tax: " followed by a double value, representing the property tax with two decimal places.Refer to the sample output for formatting specifications.Code constraints :In this scenario, the test cases fall under the following constraints:105.00 ≤ Assessed value ≤ 106.00Sample test cases :Input 1 :200000.88Output 1 :Taxable Amount: 184000.81Property Tax: 1932.01Input 2 :987500.49Output 2 :Taxable Amount: 908500.45Property Tax: 9539.25Input 3 :1000000.00Output 3 :Taxable Amount: 920000.00Property Tax: 9660.00Input 4 :100000.0Output 4 :Taxable Amount: 92000.00Property Tax: 966.00

The following information is provided for Able Ltd:Taxable income for the year is $400,000There was an increase in deferred tax asset for the year of $80,000There was a decrease in deferred tax liability for the year of $30,000There was a gain on revaluation of plant (before tax) of $90,000Tax rate is 30%What is the income tax expense of Able Ltd for the year in accordance with the requirements of AASB112 Income Taxes?