Can you use Python programming language to to this question?Thanks Some say paying taxes makes Finns happy, so let's see if the secret of happiness liesin one of the taxes set out in Finnish tax code.According to the Finnish Tax Administration, a gift is a transfer of property to anotherperson against no compensation or payment. If the total value of the gifts you receivefrom the same donor in the course of 3 years is €5,000 or more, you must pay gift tax.When the gift is received from a close relative or a family member, the amount of taxto be paid is determined by the following table, which is also available on this website:Value of gift5 000 25 00025 000 - 55 00055 000 200 000200 000 1 000 0001 000 000 -Tax at the lower limitValue of gift: 3500No tax!Value of gift: 5000Amount of tax: 100.0 euros100Value of gift: 27500Amount of tax: 1950.0 euros1 7001 # Write your solution here4 70022 100142 100Tax rate for the exceeding part (%)810So, for a gift of 6 000 euros the recipient pays a tax of 180 euros (100 + (6 000 - 5 000)* 0.08). Similarly, for a gift of 75 000 euros the recipient pays a tax of 7 100 euros (4700 + (75 000 - 55 000) * 0.12).12Please write a program which calculates the correct amount of tax for a gift from aclose relative. Have a look at the examples below to see what is expected. Notice thelack of thousands separators in the input values - you may assume there will be nospaces or other thousands separators in the numbers in the input, as we haven't yetcovered dealing with these.1517Sample outputSample outputSample output

The code defines a function called calculate_gift_tax that takes in a single parameter called…

Some say paying taxes makes Finns happy, so let's see if the secret of happiness lies in one of the taxes set out in Finnish tax code. According to the Finnish Tax Administration, a gift is a transfer of property to another person against no compensation or payment. If the total value of the gifts you receive from the same donor in the course of 3 years is €5,000 or more, you must pay gift tax. When the gift is received from a close relative or a family member, the amount of tax to be paid is determined by the following table, which is also available on this website:

Some say paying taxes makes Finns happy, so let's see if the secret of happiness lies in one of the taxes set out in Finnish tax code. According to the Finnish Tax Administration, a gift is a transfer of property to another person against no compensation or payment. If the total value of the gifts you receive from the same donor in the course of 3 years is €5,000 or more, you must pay gift tax. When the gift is received from a close relative or a family member, the amount of tax to be paid is determined by the following table, which is also available on this website:

C++ for Engineers and Scientists

4th Edition

ISBN:9781133187844

Author:Bronson, Gary J.

Publisher:Bronson, Gary J.

Chapter5: Repetition Statements

Section: Chapter Questions

Problem 11PP

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