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(Corporate income tax) Sales for J. P. Hulets inc, during the past year amounted to $4.2 million. Gross profits totaled $1.05 million, and cperating and

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(Corporate income tax) Sales for J. P. Hulets inc, during the past year amounted to $4.2 million. Gross profits totaled $1.05 million, and cperating and depreciation expenses were $498,000 and $348,000, respectively. Dividend income for the year was $13,000, which was paid by a firm in which Hulett owhs 85 percent of the shares, Use the corporate tax rates shown in the popup window, marginal tax rates? , to Comcute the corporation's tax liability. What are the firm's average and The firm's tax liability for the year is 5 (Round to the mearest dollar.) The firmss averoge tax rate is 6. (Round to two decimal placeg.) The firm's marginal tax rate is F. (fkound to the nearest integer.) \begin{tabular}{l|l} \hline Taxable Income & Marginal Tax Rate \\ \hline$0$50,000 & 15% \\ \hline$50,001$75,000 & 25% \\ \hline$75,001$100,000 & 34% \\ \hline$100,001$335,000 & 39% \\ \hline$335,001$10,000,000 & 34% \\ \hline$10,000,001$15,000,000 & 35% \\ \hline$15,000,001$18,333,333 & 38% \\ \hline Over \$18,333,333 & 35% \\ \hline \end{tabular} (Click on the icon ph inder to copy its contents into a spreadsheet.)

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