Question

Please create this on the program called raptor, NOT PYTHON OR ANY OTHER SOFTWARE. Thank you.

Instructions
Develop an algorithm, in the form of a Raptor flowchart, to compute and display the amount of federal income tax to be paid when provided with the income as input. The Canadian Federal income tax rates for 2023 are: - 15% on the first $53,359 of taxable income, plus - 20.5% on the next $53,358 of taxable income (on the portion of taxable income over 53,359 up to $106,717), plus - 26% on the next $58,713 of taxable income (on the portion of taxable income over $106,717 up to $165,430 ), plus - 29% on the next $70,245 of taxable income (on the portion of taxable income over $165,430 up to $235,675), plus - 33% of taxable income over $235,675

Answer 1

To compute and display the amount of federal income tax to be paid based on the Canadian Federal income tax rates for 2023, you can develop a Raptor flowchart algorithm.

Step-by-step explanation:

To compute and display the amount of federal income tax to be paid, you can develop a Raptor flowchart algorithm based on the Canadian Federal income tax rates for 2023. Here is an example of how you can do this:

1. Start by taking the income as input.
2. If the income is less than or equal to $53,359, multiply the income by 0.15 (15%) to calculate the tax amount.
3. If the income is greater than $53,359 and less than or equal to $106,717, subtract $53,359 from the income and multiply the result by 0.205 (20.5%). Then, add the tax amount calculated in step 2 to this result.
4. Continue this process for each tax bracket, updating the income range and tax rate accordingly.
5. Finally, display the total tax amount calculated.

This algorithm will accurately compute and display the amount of federal income tax to be paid based on the given tax rates.