(Corporate income tax)Barrington Enterprises earned

$4.5 million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the popup window, , to calculate the firm's tax liability for the year. What are the firm's average and marginal tax rates?

Part 1

The firm's tax liability for the year is

$enter your response here.

(Round to the nearest dollar.)

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%