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(Corporate income tax) The Robbins Corporabion is an oil wholesaler. The ferm's sales last year were $1,00 million, with the cost of goods sold equal
(Corporate income tax) The Robbins Corporabion is an oil wholesaler. The ferm's sales last year were $1,00 million, with the cost of goods sold equal to $630,000. The firm paid interest of $237,500 and is cash operating expenses were $105,000. Also, the firm received $42,000 in dividend income from a frm in which the form owned 22%, of the shares, while payng only $11,000 in dividends to is stockhoiders. Depreciasion expense was $49,000. Use the corporate tax rates shown in the popup window. , to compute the firm's tax lablity What are the firm's average and marginal tax rates? The Robbins Corporation's tax labilfy for the year is 3 (Round to the neavest dollar The tam's average tax rate is is (Round to two decimal places.) The firmis marginal tax rate is is. (Round to the nearest nteger)
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