Chapter 11. Use the tax rate taken from Exhibit 11.6 to calculate the total taxes paid for Lansing, Inc., this year. Lansing's pretax income was $375,000 Exhibit 11.6 U.S. Corporate Tax Rate Schedule in 2007 Taxable income: More Than But Not More Than Tax Owed $0 $50,000 15% of amount beyond $0 $50,000 $75,000 $7,500+ 25% of amount beyond $50,000 $75,000 $100,000 $13,750 + 34% of amount beyond $75,000 $100,000 $335,000 $22.250 + 39% of amount beyond $100,000 $335,000 $10,000,000 $113.900+ 34% of amount beyond $335,000 $10,000,000 $15,000,000 $3,400,000+ 35% of amount beyond $10,000,000 $15,000,000 $18,333,333 $5,150,000+ 38% of amount beyond $15,000,000 $18,333,333 35% on all income $90,500 $113,900 $127,500 $157,400