Corporate income tax) Last year Sanderson, Inc. had sales of $3.7 million. The firm's cost of goods sold came to $2.3 million, its operating expenses excluding depreciation of $97,000 were $410,000, and the irm paid $155,000 in interest on its bank loans. Also, the corporation received $55,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $30,000 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 S (Round to the nearest dollar) Data table Taxable Income $0-$50,000 $50,001-$75,000 $75,001-$100,000 Marginal Tax Rate 15% 25% 34% 39% $100,001 $335,000 $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% (Click on the icon in order to copy its contents into a spreadsheet.) Print Done - X