4. Calculate the combined marginal tax rate for ordinary income and the combined rate for capital gains Federal Corporate Marginal Tax Rate (Ordinary Income): 34.00 % State Corporate Marginal Tax Rate (Ordinary Income): 12.12 % Combined marginal tax rate on ordinary income- Combined Corporate Tax Rate for Capital Gains = 50% of combined rate for ordinary income Combined Corporate Tax Rate for Capital Gains:- Use these tax rates to calculate after-tax cash flow for selling the asset in each of the following four scenarios. Fill in all the blanks in the table Cost Basis Salvage Value (Selling Price Book Value Asset Held Scenario 1 $45,000 $23.000 $29,000 6 months Scenario 2 $45,000 $29,000 $23,000 6 months Scenario 3 $45,000 $55,000 $20,000 Scenario 4 $45,000 $55,000 $20,000 6 months ordinary income capital gain / loss corporate income taxes after-tax cash flow