a. Find the marginal tax rate for the following level of corporate earnings before tax: (I) $60,000; and (ii) $150,000 b. For each of the above cases, how much would the companies after tax earnings be? c. For each of the above cases, what is the effective tax rate?

Corporate Tax Rate Schedule Range of taxable income Base tax rate (Marginal rate x amount over base braket 0 to 50,000 to 75,000 to 100,000to 335,000to 10,000,000 to 15,000,000 to 50,000 75,000 100,000 35,000 10,000,000 15,000,000 18,333,333 0 + 7500 + 13750 + 22250 + 113900 + 3400000 + 5150000 + 6416667 + (15% x amount over $0) (25% x amount over $50,000 (34% x amount over $75,000) (3916 x amount over $100,000) (34% x amount over $335,000) (35% x amount over $10,000,000) (3896 x amount over $15,000,000) (35% x amount over $18,333,333) 18,333,333 and up