corporate tax rates

15% $0-$50,000

25% $50,001-$75,000

34% $75,001-$10,000,000

35% over $10,000,000

additional surtax

5% on income between $100,000 and $335,000

3% on income between $15,000,000 and $18,333,333

(Corporate income tax) G. R. Edwin Inc. had sales of $6.09 million during the past year. The cost of goods sold amounted to $2.97 million. Operating exponses totaled $2.52 million, and interest expense was $28,000. Determine the firm's tax liabilityby using the corporate tax rate structure in the popup window, MI Calculate the gross profits. The gross profits are $ (Round to the nearest dollar.) Incorrect: 0