Indian Point Kennels, Inc.’s 2024 Income Statement is reported below (in millions of dollars). Determine the firm’s tax liability, net income, average tax rate, and marginal tax rate.

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Indian Point Kennels, Inc., Income Statement (In Millions of Dollars) Net Sales (all credit) Less: Cost of Goods Sold Gross Profits Less: Other Operating Expenses EBITDA Less: Depreciation and Amortization Earnings before Interest and Taxes (EBIT) Less: Interest Earnings before Taxes (EBT) Less: Taxes Net Income $475 245 $230 110 $120 12 $108 38 $ 70