Corporate income tax/ Meyer Inc has taxable income (earnings before taxes) of 300,000. Calcualte Meyer's federal income tax liability using the tax table . What are the firm's average and marginal taxes?

Taxabale Income Marginal Tax Rate

0-$50,000 15%

$50,001-$75,000 25%

$75,001-$100,000 34%

$100,000-$335,000 39%

$335,000-$10,000,000 34%

$10,000,001-$15,000,000 35%

$15,000,001-$18,333,333 38%

Over $18,333,333 35%