(Corporate income tax) Sales for J. P. Hulett Inc. during the past year amounted to $3.6 million. Gross profits totaled $1.03 million, and operating and depreciation expenses were $493,000 and $359,000, 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, average and marginal tax rates? The firm's tax liability for the year is $ (Round to the n Data table to Comcute the corporation's tax liability. What are the firm's 7 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.) - X

(Corporate income tax) Sales for J.P. Hulett Inc. during the past year amounted to $3.6 million. Gross profits totalod $1.03 milhon, and operating and depreciation expenses were $493,000 and $359,000, respectively. Drvidend 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 fates 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 yoar is $ (Round to the n