12. Paddle Fans & More has a marginal tax rate of 34 percent and an average tax rate of 23.7 percent. If the firm earns $138,500 in taxable income, how much will it owe in taxes? a. $31,366.67 b. $31,500.00 c. $32,824.50 d. $39,957.25 e. $47,090.00

13. Use the following tax table to answer this question: Bait and Tackle has taxable income of $411,562. How much does it owe in taxes? a. $128,603.33 b. $134,611.27 c. $138,542.79 d. $139,931.08 e. $141,35674.82

Help me with a quicker way to solve these, I am getting caught up in the tax tables and it's very cumbersome. If possible, show me steps on a financial calculator please!

Thank you!

Taxable income 50,000 Tax Rate 15% $ 0- 50,001 - 75,000 75,001 - 100.000 100,001 - 335,000 335,001 - 10,000,000 25 34 39 34