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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 $3.6 million. The firm's cost of goods sold came to $2.2 million, its operating expenses excluding depreciation of $96,000 were $407,000, and the firm paid $150,000 in interest on its bank loans. Also, the corporation received $51,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $24,000 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?
The firm's tax liability for the year is $ (Round to the nearest dollar.)
The firm's average tax rate is %(Round to two decimal places.)
The firm's marginal tax rate is %.(Round to the nearest integer.)
Data table
\table[[Taxable Income,Marginal Tax Rate],[$0-$50,000,15%
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