Task 2 - Creating and Calling Functions

2.1 - Calculating Taxes

Write a Python function called calc_tax() that calculates and prints the tax on a purchased item. The input of this function should be the name of the item (a string), and the pre-tax price of the item (a number).

Requirements:

• Add a docstring to this function so users know how to use it.

• Calculate the provincial tax (5%) federal tax (7%), and store them as separate variables.

• Choose one:

  • A) Add at least two assert statements as tests for your code OR

  • B) Use try/except statements to test for inputs to the function.

• Print the item amount, the provincial tax, the federal tax, and the total with all taxes included.

• Round tax amounts, and the final price to the nearest cent and display with exactly two decimal points.

Sample Output

>> calc_tax(‘candy’, 10) # Run the calc_tax() function on candy to get the following output

candy

pre-tax price of: $10.00

provincial tax: $0.50

federal tax: $0.70

total price of: $11.00

#add your import statements here

# Your solution here