Last yearSanderson, Inc. had sales of $3.9 million. Thefirm's cost of goods sold came to $2.6 million, its operating expenses excluding depreciation of $103,000 were $409,000, and the firm paid $153,000 in interest on its bank loans. Also, the corporation received $55,000 in dividend income(from a company in which it owned less than 20 percent of itsshares) but paid $24,000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popupwindow, LOADING...

, to calculate thecorporation's tax liability. What are thefirm's average and marginal taxrates?