For 2015, Challenger had projected taxable income of $94,800. Its actual taxable income exceeded this projection by $20,037 How much additional tax did the firm owe due to the $20,037 increase in taxable income? Taxable Income Tax Rate $ 0 - 50,000 15% 50,001 - 75,000 25% 75,001 - 100,000 34% 100,001 - 335,000 39 %