(Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $3.5 million. Gross profits totaled $1.08 million, and operating a depreciation expenses were $497,000 and $345,000, respectively. Dividend income for the year was $14,000, which was paid by a firm in which Hule 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 average and marginal tax rates? The firm's tax liability for the year is $ (Round to The firm's average tax rate is %. (Round to two The firm's marginal tax rate is%. (Round to the Data table Taxable Income $0-$50,000 $50,001 - $75,000 $75,001 - $100,000 $100,001 - $335,000 $335,001-$10,000,000 $10,000,001 - $15,000,000 $15,000,001 - $18,333,333 Marginal Tax Rate 15% 25% 34% 39% 34% 35% 38% Over $18,333,333 35% (Click on the icon in order to copy its contents into a spreadsheet.)

(Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $3.5 million. Gross profits totaled $1.08 million, and operating a depreciation expenses were $497,000 and $345,000, tespectively. Dividend income for the year was $14,000, which was paid by a firm in which Hul 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 average and marginal tax rates? Data table The firm's tax liability for the year is s (Round to The firm's average tax rate is \%. (Round to two The furm's marginal tax rate is \%. (Round to the