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Barrington Enterprises earned $3.7million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the

Barrington Enterprises earned $3.7million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the popup window, to calculate the firm's tax liability for the year. What are the firm's average and marginal tax rates?

The firm's tax liability for the year is

$____.

$0$50,000

15%

$50,001$75,000

25%

$75,001$100,000

34%

$100,001$335,000

39%

$335,001$10,000,000

34%

$10,000,001$15,000,000

35%

$15,000,001$18,333,333

38%

Over $18,333,333

35%

(Round to the nearest dollar.)The firm's average tax rate is

____%.

(Round to two decimal places.)The firm's marginal tax rate is

____%.

(Round to the nearest integer.)

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