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 pretax income levels (measured on the x axis). What generalization can be made concerning the relationship between these variables? a. Find the marginal tax rate for the following levels of corporate samnings before taxes: $11,700; $81,900; $298,000; $504,000; $1,500,000; $9.1 million; and $19.8 million The tax liability for earnings before taxes of $11,700 is $. (Round to the nearest dollar.) Corporate Tax Rate Schedule + Range of taxable income $0 to $50,000 50,000 to 75,000 75,000 to 100,000 100,000 to 335,000 335,000 to 10,000,000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax $0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 + + (15% (25% + (34% (39% (34% + (35% + (38% + (35% Tax calculation (Marginal rate x amount over base bracket) x amount over $0) x amount over 50,000) x amount over 75,000) x amount over 100,000) x amount over 335,000) x amount over 10,000,000) X amount over 15,000,000) x amount over 18,333,333) + +