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: $7,700; $79,800; $299,000; $500,000; $1.8 million; $9.5 million; and $20.2 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 earnings before taxes: $7,700; $79,800; $299,000;$500,000; $1,800,000; $9.5 million; and $20.2 million. The tax liability for earnings before taxes of $7,700 is $. (Round to the nearest dollar.) The after-tax earnings on $7,700 are $ (Round to the nearest dollar.) The average tax rate for the $7,700 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $79,800 is $. (Round to the nearest dollar.) The after-tax earnings on $79,800 are $. (Round to the nearest dollar.) The average tax rate for the $79,800 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $299,000 is $ (Round to the nearest dollar.) The after-tax earnings on $299,000 are $ (Round to the nearest dollar.) The average tax rate for the $299,000 in pretax earnings is \%. (Round to one decimal place.) The tax liability for earnings before taxes of $500,000 is $ (Round to the nearest dollar.) The after-tax earnings on $500,000 are $ (Round to the nearest dollar.) The average tax rate for the $500,000 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $1.8 million is $ (Round to the nearest dollar.) The after-tax earnings on $1.8 million are $. (Round to the nearest dollar.) The average tax rate for the $1.8 million in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $9.5 million is $. (Round to the nearest dollar.) The after-tax earnings on $9.5 million are $. (Round to the nearest dollar.) The average tax rate for the $9.5 million in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $20.2 million is $. (Round to the nearest dollar.) The after-tax earnings on $20.2 million are $ (Round to the nearest dollar.) The average tax rate for the $20.2 million in pretax earnings is %. (Round to one decimal place.) b. Plot the average tax rates (measured on the y axis) against the pretax income levels (measured on the x axis). The correct shape of the curve is: (Select the best answer below.) 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: $7,700; $79,800; $299,000; $500,000; $1.8 million; $9.5 million; and $20.2 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 earnings before taxes: $7,700; $79,800; $299,000;$500,000; $1,800,000; $9.5 million; and $20.2 million. The tax liability for earnings before taxes of $7,700 is $. (Round to the nearest dollar.) The after-tax earnings on $7,700 are $ (Round to the nearest dollar.) The average tax rate for the $7,700 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $79,800 is $. (Round to the nearest dollar.) The after-tax earnings on $79,800 are $. (Round to the nearest dollar.) The average tax rate for the $79,800 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $299,000 is $ (Round to the nearest dollar.) The after-tax earnings on $299,000 are $ (Round to the nearest dollar.) The average tax rate for the $299,000 in pretax earnings is \%. (Round to one decimal place.) The tax liability for earnings before taxes of $500,000 is $ (Round to the nearest dollar.) The after-tax earnings on $500,000 are $ (Round to the nearest dollar.) The average tax rate for the $500,000 in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $1.8 million is $ (Round to the nearest dollar.) The after-tax earnings on $1.8 million are $. (Round to the nearest dollar.) The average tax rate for the $1.8 million in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $9.5 million is $. (Round to the nearest dollar.) The after-tax earnings on $9.5 million are $. (Round to the nearest dollar.) The average tax rate for the $9.5 million in pretax earnings is %. (Round to one decimal place.) The tax liability for earnings before taxes of $20.2 million is $. (Round to the nearest dollar.) The after-tax earnings on $20.2 million are $ (Round to the nearest dollar.) The average tax rate for the $20.2 million in pretax earnings is %. (Round to one decimal place.) b. Plot the average tax rates (measured on the y axis) against the pretax income levels (measured on the x axis). The correct shape of the curve is: (Select the best answer below.)