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Corporate income tax ) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $ 1 . 0 8 million, with the
Corporate income tax The Robbins Corporation is an oil wholesaler. The firm's sales last year were $ million, with the cost of goods sold equal to $ The firm paid terest of $ and its cash operating expenses were $ Also, the firm received $ in dividend income from a firm in which the firm owned of the shares, while aying only $ in dividends to its stockholders. Depreciation expense was $ Use the corporate tax rates shown in the popup window, to compute the firm's tax ability. 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.
tableTaxable Income,Marginal Tax Rate$$
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