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( Corporate income tax ) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $ 1 . 0 5 million, with

(Corporate income tax) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $1.05 million, with the cost of goods sold equal to $620,000. The firm paid interest of $218,000 and
its cash operating expenses were $102,000. Also, the firm received $40,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only $14,000 in dividends to its
stockholders. Depreciation expense was $51,000. Use the corporate tax rates shown in the popup window, , to compute the firm's tax liability. What are the firm's average and marginal tax rates?
Data table
The Robbins Corporation's tax liability for the year is $,(Round to the nearest dollar.)
The firm's average tax rate is %.(Round to two decimal places.)
The firm's marginal tax rate is %.(Round to the nearest integer.)
(Click on the icon in order to copy its contents into a spreadsheet.)
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