Hunt Taxidermy, Inc., is concerned about the taxes paid by the company in 2021. In addition to $42.1 million of taxable income, the firm received $2,985,000 of interest on state-issued bonds and $1,200,000 of dividends on common stock it owns in Oakdale Fashions, Inc. (Use corporate tax rate of 21 percent for your calculations.)

Tax liability

Average tax rate:

Marginal Tax Rate: