Boisjoly productions had taxable income of $19.9 million.

a. Calculate Boisjoly federal income taxes using the tax table shown in the popup window.

b. now calculate boisjoly average and marginal tax rates

1. The firms tax liability for the year is $_____ round to the nearest dollar

2. The firms average tax rate is. _____% round to two decimal places.

\begin{tabular}{|c|c|} \hline Taxable Income & Marginal Tax Rate \\ \hline$0$50,000 & 15% \\ \hline$50,001$75,000 & \\ \hline$75,001$100,000 & 34% \\ \hline$100,001$335,000 & 39% \\ \hline$335,001$10,000,000 & 34% \\ \hline$10,000,001$15,000,000 & 35% \\ \hline$15,000,001$18,333,333 & 38% \\ \hline Over $18,333,333 & 35% \\ \hline \end{tabular}