HW Score: 25, 2 of 8 pts P3-5 (similar to) Question Corporate income tax last year anderson, Inc. hades of 336 m The food came to 12 pering experts ons bank loans the corporation received 64.600 individend income from a company in owned than 20 percent of shares rates whown in the poor window to ca r e corporations taxaby What are the were and are in der 123.000 100.000 a a nda $40.000 .000 or The festas lability for the year is Round to the nearest dolar) Homework: Chapter 3 Homework Save Score: 0 of 1 pt 3 of 8 (5 complete) HW Score: 45.57%, 3.65 0... P3-5 (similar to) Question Help (Corporate income tax) Last year Sanderson, Inc. had sales of $3.6 million. The firm's cost of goods sold came to $2.3 million, its operating expenses excluding depreciation of $102,000 were $410,000, and the firm paid $152,000 in interest on its bank loans. Also, the corporation received $54,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup window, to calculate the corporation's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is S . (Round to the nearest dollar.) O compiuto) Fillion. The firm's cost of goods sold came to $2.3 million, its operating expenses excluding deprec come (from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the * liability. What are the firm's average and marginal tax rates? i Data Table Taxable income $0 - $50,000 $50,001 - $75,000 $75,001 - $100,000 $100,001 - $335,000 $335,001 - $10,000,000 $10,000,001 - $15,000,000 $15,000,001 - $18,333,333 Over $18,333,333 Marginal Tax Rate 15% 25% 34% 39% 34% 35% 38% 35% Print Done Answer. Clear All