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Default Calculating tax Formula

I am constructing a payroll spreadsheet. In the cell that calculates the
Federal TaxI have the following:
=if(i7<100,(i7*.04769)=if(i7101<150,(i7*.05693))) . The value in i7 is 140
and it returns a FALSE in cell i7 instead of a dollar amount.
Any help would be greaatly appreciated.

 
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