Homework: Chapter 3 Homework Save Score: 0 of 1 pt 5 of 6 (complete) HW Score: 0%, 0 of 6 pts P3-4 (similar to) Question Help is: (Corporate income tax) Barrington Enterprises earned $3.4 million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the popup window, to calculate the firm's tax liability for the year. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $ (Round to the nearest dollar.) 802 481 _056 0 Taxable Income Marginal Tax Rate $0-$50,000 15% $50,001 - $75,000 25% $75,001 - $100,000 34% $100,001 - $335,000 39% $335,001 - $10,000,000 34% $10,000,001 - $15,000,000 35% $15,000,001 - $18,333,333 38% Over $18,333,333 35%