Answer Happy

Question 1: Program Design [12 marks] An individual's tax on annual (taxable) income is described as in the table below: Tax on this income Taxable income 0-$18,200 $0 $18,201 - $37,000 19c for each $1 over $18,200 $37,001 - $90,000 $90,001 - $180,000 $3,572 plus 32.5c for each $1 over $37,000 $20,797 plus 37c for each $1 over $90,000 $54,097 plus 45c for each $1 over $180,000 $180,001 and over An individual's Medicare Levy (ML) is usually of 2% of their taxable income. In addition, some people may have to pay a Medicare Levy Surcharge (MLS) if their taxable income is greater than a certain threshold, and do not have a Private Insurance Cover. The MLS can be calculated using the following table. Taxable income MLS on this income 0 - $90,000 $0 $90.001 - $140,000 1% of the taxable income $140,001 and over 1.5% of the taxable income Finally, the net income can be calculated using the following formula: net_Income = taxable_income tax - ML - MLS
The task: You are requested to design a program that can be used to estimate an individual's net income based on the above description (in either flowchart or pseudo code format, but no C code is required). Clearly show all control structures such as sequential, decisions, loops (and functions and function calls, if any). The program should prompt the user input the taxable_income (in dollar), and then ask if the user has a Private Insurance Cover (Yes/No?). Based on these inputs, the program calculates the tax, ML, and MLS based on the data entered, and finally prints the following table as the result of the estimation. ==== Your tax (& net income) estimation: Taxable Income: <taxable_income> Tax: <tax> Medicare Levy: <ML> Medicare Levy Surcharge: <MLS> Net Income: <net_Income> ====== where <taxable_income>, <tax>, <ML>, <MLS> and <net_Income> are the data entered or calculated as above. You design should also ● Make necessary data validation (e.g., report an error message if the taxable income entered is less than 0, etc.). At the end of the program, prompt the user to choose if he/she would like to repeat the estimation again. The program should not end unless the user chooses not to repeat.