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(Corporate income tax) Last year Sanderson, Inc, had sales of $3.2 millon. The firm's cost of goods sold came to $2.1 million, its operating expenses

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(Corporate income tax) Last year Sanderson, Inc, had sales of $3.2 millon. The firm's cost of goods sold came to $2.1 million, its operating expenses excluding depreciation of $100,000 were $402,000, and the firm pald $152,000 in interest on its bank loans. Also, the corporation recelved $55,000 in dividend lincome (from a company in which it owned less than 20 percent of its shares) but paid $26,000 in the form of dividerids to its own common stockholders, Use the corporate tax rates shown in the popup window, , to calculate the corporation's tax liablity. What are the firm's average and marginal tax rates? The firm's tax liability for the year in : (Round to the nearest dollar.) Data table

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