How to define Tier pricing and get the tiers applied in Service Contracts

Summary

How to define Tier pricing and get the tiers applied on Service Contracts lines

Content

I read the pricing administration documentation where a use case was provided on how pricing behaves but i don't see a system setup procedure to properly attain the below. Attached screenshots has example on how i had setup

I tried tiered adjustment charge type in price list but its not giving the required results as below.

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Requirement

Item - PSGPPTCOUNTASSET

 Input 1: Average Asset Value Tiers:     
                0 – 9999.99               $8.75 per ppt
                10,000.00 – 19,999.99     $6.25 per ppt
                20,000.00 – 29,999.99     $3.75 per ppt
                30,000.00 – 39,999.99     $1.25 per ppt
                40,000.00 and up           $0.00 per ppt
 
Input 2: Participant Count --- Will be multiplied by the result above.