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( Corporate income tax ) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $ 1 . 0 7 million, with

(Corporate income tax) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $1.07 million, with the cost of goods sold equal to $660,000. The firm paid interest of $197,500 and its cash operating expenses were $103,000. Also, the firm received $42,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only $11,000 in dividends to its stockholders. Depreciation expense was $52,000. 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?
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.)
Data table
\table[[Taxable Income,Marginal Tax Rate],[$0-$50,000,15%
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