(Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $4.1 million Gross profits totaled $1.03 million, and operating and depreciation expenses were $497,000 and $343,000, respectively. Dividend income for the year was $11,000. 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 $ 57,350 (Round to the nearest dollar.) The firm's average tax rate is %. (Round to two decimal places.)