Federal Income Taxes Q-8-3. Waren Sports Supply Assume that corporate income tax rates for 2017 are: 15% of the first 550.000 of income, plus 25% of the next 525,000, plus 34% of the next 525.000, plus 3996 of the next $235,000. The remaining tax brackets are not listed because they aren't applicable to Waren's level of pre-tax income. General ledger account numbers for the journal entry are: #40700 (Federal income tax expense) and #20700 (Federal income taxes payable). What is the dollar amount of the year-end accrual for federal Income taxes