?(a) On the basis of this financial? information, determine both federal and state marginal tax rates. The marginal state tax rate is %

The marginal federal tax rate is %

?(b) Determine the combined marginal tax rate for this corporation.

The combined marginal tax rate for this corporation is %

A corporation has the following financial information for a typical operating year Gross revenue Cost of goods sold Operating costs Federal taxes State taxes $7,200,000 3,050,000 720,000 338,000 197,990