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Data Table Corporate Tax Rates 15% 25% 34% 35% Additional surtax . 5% on income between $100,000 and $335,000 . 3% on income between $15,000,000
Data Table Corporate Tax Rates 15% 25% 34% 35% Additional surtax . 5% on income between $100,000 and $335,000 . 3% on income between $15,000,000 and $18.333.333 S0-$50,000 $50,001 $75,000 $75,001 $10,000,000 over $10,000,000 (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) PrintDone Score: 0 of 1 pt 4 of 8 (4 complete)> HW Score: 37.5%, 3 of 8 pts Problem 3-18 (similar to) Question Help Computing income taxes) Sandersen Inc. sells minicomputers. During the past year, the company's sales were $3.08 million. The cost of its merchandise sold came to $1.96 million, and cash operating expenses were $390,000; depreciation expense was $98,000, and the firm paid $142,000 in interest on its bank loans. Also, the corporation paid $22,000 in the form of dividends to its own common stockholders. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, The corporation's tax liatyis (Round to the nearest dollar.)
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