Corporate Tax Rates as of January 2012 If a Corporation's Taxable Income Is Up to $50,000 $50,000-$75,000 $75,000-$100,000 $100,000-$335,000 $335,000-$10,000,000 $10,000,000-$15,000,000 $15,000,000-$18,333,333 Over $18,333,333 It Pays This Amount on the Base of the Bracket $0 $7,500 $13,750 $22,250 $113,900 $3,400,000 $5,150,000 $6,416,667 Plus This Percentage on the Excess Over the Base 15% 25 34 39 34 35 Average Tax Rate at Top of Bracket 15.0% 18.3 22.3 34.0 34.0 34.3 38 35.0 35 35.0 The Talley Corporation had a taxable income of $385,000 from operations after all operating costs but before (1) interest charges of $77,000, (2) dividends received of $23,100, (3) dividends paid of $15,400, and (4) income taxes. What are the firm's income tax liability and its after-tax income? Round your answers to two decimal places. Income tax liability After-tax income What are the company's marginal and average tax rates on taxable income? Round your answers to two decimal places. Marginal tax rate % Average tax rate %