(Corporate income tax) Last year Sanderson, Inc. had sales of $3.7 million. The firm's cost of goods sold came to $2.4 million, its operating expenses excluding depreciation of $95,000 were $402,000, and the firm paid $154,000 in interest on its bank loans. Also, the corporation received $49,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $25,000 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.) (Corporate income tax) Last year Sanderson, Inc. had sales of $3.7 million. The firm's cost of goods sold came to $2.4 million, its operating expenses excluding depreciation of $95,000 were $402,000, and the firm paid $154,000 in interest on its bank loans. Also, the corporation received $49,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $25,000 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.)