(Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $4.2 million. Gross profits totaled $1.03 million, and operating and depreciation expenses were $496,000 and $350,000, respectively. Dividend income for the year was $13,000, which was paid by a firm in which Hulett owns 85 percent of the shares. Use the corporate tax rates shown in the popup window, : , to Comcute the corporation's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $. (Round to the nearest dollar.) (Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $4.2 million. Gross profits totaled $1.03 million, and operating and depreciation expenses were $496,000 and $350,000, respectively. Dividend income for the year was $13,000, which was paid by a firm in which Hulett owns 85 percent of the shares. Use the corporate tax rates shown in the popup window, : , to Comcute the corporation's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $. (Round to the nearest dollar.)