1. (20 points) Using the following post-2018 tax cut tax rate schedule for Federal and Arkansas State corporate taxes, answer the following for XZY Corporation: For an Arkansas-based corporation that will earn $40,000 in 2018 : a. What is the: (i) Federal marginal tax rate; (ii) Arkansas state marginal tax rate? b. What is the combined Federal and Arkansas state marginal tax rate? | c. What will the company's earnings after tax be after accounting for Federal and Arkansas state corporate taxes? d. What will the effective tax rate be after accounting for Federal and Arkansas state corporate taxes? e. XYZ Corporation has cumulative preferred stock but stopped paying preferred dividends three years ago. If the company has surplus earnings this year, and the Board wants to pay preferred and common stock dividends beginning this year without making up for missed dividends from prior years, can it do so? If so, how much - and if not, why not