Last year$$ Sanderson, Inc. had sales of $ $3\mathrm{.}6$ million. The$$ firm's cost of goods sold came to $ $2\mathrm{.}3$million$,$ its operating expenses excluding depreciation of $ $100,000$ were $ $408,000,$ and the firm paid $ $152,000$ in interest on its bank loans. $$ Also, the corporation received $ $52,000$ in dividend income$($from a company in which it owned less than $20$ percent of its$$ shares$)$ but paid $ $30,000$ in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup$$ window, LOADING...$,$ to calculate the$$ corporation's tax liability. What are the$$ firm's averTaxable Income

$$Marginal Tax Rate

$$$$0$minus$$$$50,000$

$15\%$

$$$$50,001$minus$$$$75,000$

$25\%$

$$$$75,001$minus$$$$100,000$

$34\%$

$$$$100,001$minus$$$$335,000$

$39\%$

$$$$335,001$minus$$$$10,000,000$

$34\%$

$$$$10,000,001$minus$$$$15,000,000$

$35\%$

$$$$15,000,001$minus$$$$18,333,333$

$38\%$

$$Over$$ $$18,333,333$

$35\%$age and marginal tax$$ rates