profit percentage formula

[Kenhill]

I need a formula that will calculate a percentage of a number in a cell up to a certain amount, plus a different percentage of anything above that amount. Example, partners in a company split profit 3 ways. The first $11,500 will be split 45%, 30%, and 25%. Each partner will also receive 20% of any profit above $11,500. I need a formula that will calculate how much profit a partner has earned from the total profit. Can anyone help me? Thanks

[scott.s.fower]

profit percentage.xlsx

so the logic is this, if Profit > 11500 then each partner gets their cut of 11500, other wise they get that percent of the profit
+
20% of Profit - 11500
=
Partner's profit
so partner 1 @ 45%
=IF(Profit>11500,11500*.45,Profit*.45)+IF(Profit>11500,(Profit-11500)*.20)=22875