Q 10.42. Search online for the current federal in- come tax rates on the four different types of income for individual taxpayers and corporate taxpayers. 1. What are these rates? 2. Assume that a corporation has just earned $2 million in ordinary income, $1 million in inter- est income, and $3 million in realized long-term capital gains (net). Focusing only on the basics and ignoring deductions, what is its tax obliga- tion? What are its marginal tax rates? What is its average tax rate? 3. Assume that you (an individual) have just earned $2 million in ordinary income, $1 mil- lion in interest income, and $3 million in real- ized long-term capital gains (net). Focusing only on the basics and ignoring deductions, what is your income tax obligation? What is your marginal tax rate? What is your average tax rate? 4. How much would your state income tax, Social Security, and Medicare add to your tax bill? Is your state income tax payment a before-tax or an after-tax expense?