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( Corporate income tax ) Last year Sanderson, Inc. had sales of $ 3 . 2 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 $ milion. is 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 corporations tax liability. What are the firm's average and marginal tax rates?
The firmis tar liability for the year is $Round to the nearest dollar.
Data table
tableTaxable Income,Marginal Tax Rate$$
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