Hunt Taxidermy, Inc. is concerned about the taxes paid by the company in 2018. In addition to $7.5 million of taxable income, the firm received $614,000 of interest on state-issued bonds and $340,000 of dividends on common stock it owns in Oakdale Fashions, Inc. (Use Table 2.3.)

Calculate Tax Liability:

Calculate the Average Tax Rate:

Calculate Marginal Tax Rate:

Plus this Percentage on Anything Over the Base table 2.3 Corporate Tax Rates as of 2015 Pay this Amount Taxable income on Base Income $0-$50,000 0 $50,001-$75,000 7,500 $75,001-$100,000 13,750 $100,001-$335,000 22,250 $335,001-$10,000,000 113,900 $10,000,001-$15,000,000 3,400,000 $15,000,001-$18,333,333 5,150,000 Over $18,333,333 6,416,667 15% 25 34 39 34 35 38