How to payout based on Net Income Range

[ThatExcelLife]

Hey Team!

Im stuck on a excel problem. Wonder if someone could give me some advice?

Its a simple scenario, but Im having trouble with the function.

Lets say you are going to get paid out based on the performance if your company. So any net income over $425,000 but under $725,000 you get 100% of it. Any additional NI over 725,000 you get 50% if it (also including the 100% of the difference between $425,000 and $725,000).

I would like to layer it as such....

[TABLE="width: 500"]
<tbody>[TR]
[TD]1) Net Income[/TD]
[TD]419,000[/TD]
[/TR]
[TR]
[TD]2) 100% between 425,000-725,000[/TD]
[TD]?[/TD]
[/TR]
[TR]
[TD]3) 50% > 725,000[/TD]
[TD]?[/TD]
[/TR]
[TR]
[TD]4) Net Income after payout[/TD]
[TD]= 1 - 2 - 3[/TD]
[/TR]
</tbody>[/TABLE]

What would the formulas be for the 2nd/3rd row such that it pays out the proper amount?

Thanks for your help!

 

[njimack]

With Net income in B1:
B2: =MIN(MAX((B1-425000)*100%,0),300000)
B3: =MAX((B1-725000)*50%,0)

Edit: 1st formula was wrong

 

[ThatExcelLife]

WOAH @njimack, thank you a million times over! I spent so much time trynna make heads or tails over this simple, yet annoying problem.

Formula works great! Thanks for your not only thorough, but quick response!

This I why I love this forum. So helpful.

Thanks again, @njimack!