Chapter 1 (Introduction to Corporate Finance); Chapter 2 (Financial Statements) net income is taxable For questions # 19-20, assume that a corporation's pretax (Federal + State) based on 21% of the first $300,000, 30% of the next $400,000, and 34% of anything beyond that. ALL CALCULATIONS MUST BE SHOWN TO EARN POSITIVE RATING. PLEASE SHOW ALL WORKING CLEARLY. THANK YOU! 19.If the company made $1,000,000, what is the corporation's average tax rate