Based on the following table of the tax rates, what is the total tax for a firm with taxable income of $120,000?

Taxable Income ($)	Tax Rate
0 9,525	10%
9,525 38,700	12%
38,700 82,500	22%
82,500 157,500	24%
157,500 200,000	32%
200,000 500,000	35%
500,000 +	37%

Group of answer choices

25 percent

19 percent

34 percent

39 percent