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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 $3.2 million. The firm's cost of goods sold came to $2.2 milion. is operating expenses excluding depreciation of $104,000 were $395,000, and the firm paid $148,000 in interest on its bank loans. Also, the corporation received $46,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $20,000 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
\table[[Taxable Income,Marginal Tax Rate],[$0-$50,000,.15%
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