(Corporate income tax) Sales for J.P. Hulett Inc. during the past year amounted to $3.7 million. Gross profits totaled $1.07 million, and operating and depreciation expenses were $509,000 and $341,000, respectively. Dividend income for the year was $10,000, 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, I to Comcute the corporation's tax liability. What are the firm's avorage and marginal tax ratos? The firm's tax liability for the year is $. (Round to the nearest dollar.) Data Table Taxable income Marginal Tax Rate $0-$50,000 15% $50,001 - $75,000 25% $75,001 - $100,000 34% $100,001 - $335,000 39% $335,001 - $10,000,000 34% $10,000,001 - $15,000,000 35% $15,000,001 - $18,333,333 38% Over $18,333,333 35% Or Print Done