5) ABC Corporation had taxable income totaling $140,000 for the year. Based on the following tax table, what was ABC's Federal Tax Liability for the year? In addition, what was the firm's average and marginal tax rate? (12pts.) Corporate Tax Table Taxable Income Tax on the Base Tax Rate on Excess Over Base Up to $50,000 0 $50,000 - $75,000 $7,500 $75,000 - $100,000 $13,750 $100,000 - $335,000 $22,250 $335,000 - $10,000,000 $113,900 $10,000,000 -15,000,000 $3,400,000 $15,000,000 - 18,333,333 $5,150,000 Over $18,333,333 $6,416,667 15% 25% 34% 39% 34% 35% 38% 35%