Question

Use the XLOOKUP function in cell E5 that returns the tax deduction amount for the number of dependents listed in the cell C5. Use the table in range H13:I17 to complete the function. The maximum deduction is $500.00; therefore, employees with more than four dependents will receive no additional deductions. Set the XLOOKUP match mode to appropriately reflect this deduction.

Answer 1

To use the XLOOKUP function to return the tax deduction amount for the number of dependents listed in cell C5, using the table in range H13:I17, with a maximum deduction of $500.00, and setting the match mode to appropriately reflect this deduction, we can use the following formula in cell E5:

=XLOOKUP(C5, H13:I13:H17, I13:I17, 500, 1)

This formula will first look up the number of dependents in cell C5 in the table in range H13:I17. It will then return the corresponding tax deduction amount from column I, unless the number of dependents is greater than four, in which case it will return the maximum deduction of $500.00. The 1 in the last argument of the XLOOKUP function specifies that the match mode should be set to exact. This ensures that the function will only return a value if the number of dependents in cell C5 is exactly equal to one of the values in column H.

Here is an example of how the formula would work:

Cell C5 | Cell E5

------- | --------

0 | 300

1 | 350

2 | 400

3 | 450

4 | 500

5 | 500

Answer 2

Use the XLOOKUP function in cell E5 to find the tax deduction for dependents in C5 using the table in H13:I17, capping the deduction at $500 for more than four dependents with an exact or next smaller item match mode.

Step-by-step explanation:

To use the XLOOKUP function in cell E5 to return the tax deduction amount for the number of dependents listed in cell C5, you would structure the function using the range H13:I17 as your lookup and return arrays. You should consider the maximum deduction limit, setting the XLOOKUP to properly reflect when the number of dependents exceeds four, which does not result in any additional deductions. The formula in E5 may look something like this:

=XLOOKUP(C5, H13:H17, I13:I17, "500", 0, -1)

This formula will look for the value in C5 within the range H13:H17 and return the corresponding value from I13:I17. If the number of dependents is greater than the highest number listed in H13:H17, it will return $500", and the match mode is set to -1 to find an exact match or the next smaller item if an exact match is not found, which is relevant for handling situations where there are more than four dependents.