(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 610,000 . The firm paid interest of 239,000 and its cash operating expenses were 102,000 . Also, the firm received 44,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only 13,000 in dividends to its stockholders. Depreciation expense was 49,000. Use the corporate tax rates shown in the popup window, LOADING..., to compute the firm's tax liability. What are the firm's average and marginal tax rates?

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%

tax liability:

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