If a firm's taxable income is $225,000, what is the firms tax liability? Use the following tax table to answer questions 6-9: $22,250 $87,750 $71,000 $110,000 What is the firms Average Tax rate? 39% 32% 34% 28% What is the firm's Marginal Tax rate? 39% 32% 35% 34% The Jones Corp is a small real estate holdings firm. Last year the firm had $6,500,000 in revenue, with cost of goods sold totaling $4,000,000. The firm paid interest of $125,000 and its general (cash) operating expenses were $800,000. It recognized a depreciation expense of $400,000. Jones Corp received $95,000 in dividend income (from another corporation in which Jones Corp holds 34% of outstanding shares) and paid $20,000 in dividends to its own shareholders. Using the tax table above, compute Jones Corp's tax liability. $640,285 $407,575 $791,175 $431,800