(Corporate income tax) Last year Sanderson, Inc. had sales of $3.1 million. The firm's cost of goods sold came to $2.1 million, its operating expenses excluding depreciation of $98,000 were $393,000, and the firm paid $145,000 in interest on its bank loans. Also, the corporation received $45,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $27,000 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? Data table The firm's tax liability for the year is $ (Round to the nearest dollar.) Taxable Income Marginal Tax Rate $0-$50,000 15% $50,001 - $75,000 25% $75,001-$100,000 34% $100,001-$335,000 39% $335,001-$10,000,000 34% $10,000,001 - $15,000,000 35% $15,000,001-$18,333,333 38% Over $18,333,333 35%