Given the Following Tax Table Information, Write Java Code to Assign

question 31

Essay

Given the following tax table information, write Java code to assign the double taxRate appropriately, given the double pay. Select the selection statement (if, if-else, switch) that makes the most sense.
If pay is more than 100,000, tax rate is 40%
If pay is more than 60,000 and less than or equal to 100,000, tax rate is 30%
If pay is more than 30,000 and less than or equal to 60,000, tax rate is 20%
If pay is more than 15,000 and less than or equal to 30,000, tax rate is 10%
If pay is more than 5,000 and less than or equal to 15,000, tax rate is 5%
If pay is less than or equal to 5,000, tax rate is 0%

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Definitions:

Risk Premium

The additional return an investor requires to invest in an asset over a risk-free rate, compensating for the risk of the investment.

Yield

The income return on an investment, such as the interest or dividends received, often expressed as an annual percentage based on the investment’s cost, current market value, or face value.

CAPM Approach

The Capital Asset Pricing Model, a formula used to determine the expected return on investment (ROI) by correlating the risk and expected return.

Cost of Equity

The return that shareholders require or expect to earn on their investment in the company, considered as the company's cost of retaining and using equity capital.