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2013 Corporate Tax Rates It Pays This Plus This Percentage Average Tax If a Corporation's Amount on the on the Excess over the Rate at

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2013 Corporate Tax Rates It Pays This Plus This Percentage Average Tax If a Corporation's Amount on the on the Excess over the Rate at Taxable Income Is Base of the Bracket Base (Marginal Rate) Top of Bracket Up to $50,000 $0 15.0% 15.0% 7,500 $50,000 $75,000 25.0 18.3 $75,000 $100,000 13,750 34.0 22.3 22,250 39.0 34.0 $100,000 $335,000 $335,000 $10,000,000 113,900 34.0 34.0 $10,000,000 $15,000,000 3,400,000 35.0 34.3 38.0 $15,000,000 $18,333,333 5,150,000 35.0 Over $18,333,333 6,416,667 35.0 35.0 Quantitative Problem: Andrews Corporation has income from operations of $247,000. In addition, it recelved interest income of $24,700 and received dividend income of $32,800 from another corporation. Finally, it paid $10,600 of interest income to its bondholders and paid $44,200 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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