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(Corporate income tax) G. R. Edwin Inc. had sales of $5.98 million during the past year. The cost of goods sold amounted to $2.7 million.

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(Corporate income tax) G. R. Edwin Inc. had sales of $5.98 million during the past year. The cost of goods sold amounted to $2.7 million. Operating expenses totaled $2.45 million, and interest expense was $26,000. Use the corporate tax rates shown in the popup window, , to determine the firm's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $ (Round to the nearest dollar.)

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