(Corporate income tax) Sales for J. P. Hulott Ine. during the past yoar amountod to $3.7 million. Gross profits totaled $1.09 milion, and operating and depreciation axpenses wore $491,000 and $352,000, rospoctively. Dividend inoome for the yeer was $11,000, which was paid by a firm in which Hulet owns 85 percent of the shares. Use the corporate tax raten shown in tho popup window, to Comoute the corporation's tax liability. What are the firm's avornge and marginal tax rates