Average corporate tax rates Using the corporate tax rate schedule given here perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of corporate earnings before taxes: $11,700, $81,900; $298,000; $504,000; $1.5 million; $9.1 million; and $19.8 million. b. Plot the average tax rates (measured on the y axis) against the protax income levels (measured on the x axis). What generalization can be made concerning the relationship between these variables? The tax liability for eamings before taxes of $298,000 is $ 99470. (Round to the nearest dollar.) The after-tax earnings on $298,000 are $ 198530. (Round to the nearest dollar.) The average tax rate for the $298,000 in pretax earnings is 33.38 %. (Round to one decimal place.) The tax liability for earnings before taxes of $504,000 is $ 171360. (Round to the nearest dollar.) The after-tax earnings on $504,000 are $ 332640. (Round to the nearest dollar.) The average tax rate for the $504,000 in pretax earnings is 34 %. (Round to one decimal place.) The tax liability for earnings before taxes of $1.5 million is $ 510000. (Round to the nearest dollar.) The after-tax earnings on $1.5 million are S 990000. (Round to the nearest dollar.) The average tax rate for the $1.5 million in pretax earnings is 34 %. (Round to one decimal place.) The tax liability for earnings before taxes of $9.1 million is $(Round to the nearest dollar.) + + $0) + (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Corporate Tax Rate Schedule Tax calculation Range of taxable income Base tax (Marginal rate x amount over base bracket) $0 to $50,000 $0 (15% x amount over 50,000 to 75,000 7,500 (25% x amount over 50,000) 75,000 to 100,000 13,750 (34% X amount over 75,000) 100,000 to 335,000 22,250 (39% X amount over 100,000) 335,000 to 10,000,000 113,900 (34% x amount over 335,000) 10,000,000 to 15,000,000 3,400,000 (35% x amount over 10,000,000) 15,000,000 to 18,333,333 5,150,000 (38% x amount or 15,000,000) Over 18,333,333 6,416,667 (35% x amount over 18,333,333) + + + + + Print Done