3) a) If the corporate tax rate is 30% and the individual tax rate is 10% (and these are the only taxes), a corporation with $20,000 of operating income, what is the after-tax disposable income the corporation generated for its owners? The tax rate is 5% between $0-$10,000 and 12% between $10.001-$20,000. If you earn $12,000. then what is the average tax rate and the marginal tax rate? 4) a) You decide that your family would be comfortable living on an annual income of $150,000, growing at 4% per year. You'd also like to continue generating this cash flow for your descendants, forever. With interest rates of 8%, how much wealth would you need today to pvidethis income st $15000 ne year fom now? b) Suppose all income is taxed at 20%. How would this (if at all) change your answer to a)? Assume that you still feel 4% growth and $150,000 (after-tax) income is sufficient. Show a calculation and briefly explain