Question

PYTHON

Methods

void read_data()

Description: It handles the reading from the input and the storage of the above class properties

void write_data()

Description: It handles the writing to the output of the final tax return result

float adjusted_gross_income(float income)

Description: It returns the adjusted gross income

Logic: Adjusted gross income is what remains in the income after subtracting the social security and medicare taxes. Social security rate is 12.4%. Medicare is 2.9% but it only applies to the first $100K of the income. Both social security and medicare taxes are split equally between employer and employee.

Answer 1

Consider the following python code:

def read_data(): #Function for reading the data.
return float(input("Enter income "))
  

def write_data(gross_income): #Function for writing the data as output.
print(gross_income)

def adjusted_gross_income(income): #Function for calculating the gross income.
medicare_tax = 0
social_security_tax = (12.4/100) * income #calculating security tax.
if income > 100:
medicare_tax = (2.9/100) * income #calculating medicare tax.
gross_income = income - (social_security_tax + medicare_tax) #calculating gross income.
return gross_income

write_data(adjusted_gross_income(read_data())) #Function calling.