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2013 Corporate Tax Rates It Pays This Amount on the If a Corporation's Taxable Income Is Up to $50,000 $50,000 $75,000 $75,000 $100,000 $100,000 $335,000
2013 Corporate Tax Rates It Pays This Amount on the If a Corporation's Taxable Income Is Up to $50,000 $50,000 $75,000 $75,000 $100,000 $100,000 $335,000 $335,000 $10,000,000 $10,000,000 $15,000,000 $15,000,000 $18,333,333 Over $18,333,333 Base of the Bracket $0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 Plus This Percentage on the Excess over the Base (Marginal Rate) 15.0% 25.0 34.0 39.0 34.0 Average Tax Rate at Top of Bracket 15.0% 18.3 22.3 34.0 34.0 34.3 35.0 35.0 35.0. 38.0 35.0 Quantitative Problem: Andrews Corporation has income from operations of $251,000. In addition, it received interest income of $25,100 and received dividend income of $28,400 from another corporation. Finally, it paid $12,800 of interest income to its bondholders and paid $42,700 of dividends to its common stockholders. Using the 2013 corporate tax schedule, what is the firm's federal income tax? Round your intermediated and final answers to the nearest cent
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