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(Corporate income tax) Barrington Enterprises earned $3.9 million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax
(Corporate income tax) Barrington Enterprises earned $3.9 million 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 $ . (Round to the nearest dollar.) Data Table Taxable Income Marginal Tax Rate $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%
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