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( Corporate income tax ) Last year Sanderson, Inc. had sales of $ 3 . 6 million. The firm's cost of goods sold came to
Corporate income tax Last year Sanderson, Inc. had sales of $ million. The firm's cost of goods sold came to
$ million, its operating expenses excluding depreciation of $ were $ and the firm paid $ in
interest on its bank loans. Also, the corporation received $ in dividend income from a company in which it
owned less than percent of its shares but paid $ in the form of dividends to its own common
stockholders. Use the corporate tax rates shown in the popup window, to calculate the corporation's tax
liability. What are the firm's average and marginal tax rates?
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