Marginal corporate tax rates Using the corporate tax rate schedule given here perform the following: a. Find the marginal tax rate for the following levels of corporate earnings before taxes: $13,400; $59,800; $89,800; $198,000; $398,000; $1.1 million; and $19.5 million. b. Plot the marginal tax rates (measured on the y axis) against the pretax income levels (measured on the x axis). Explain the relationship between these variables. (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Corporate Tax Rate Schedule + + + + Range of taxable income $0 to $50,000 50,000 to 75,000 75,000 to 100,000 100,000 to 335,000 335,000 to 10,000,000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax $0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 Tax calculation (Marginal rate x amount over base bracket) (15% x amount over $0) (25% x amount over 50,000) (34% x amount over 75,000) (39% x amount over 100,000) X amount over 335,000) (35% X amount over 10,000,000) (38% x amount over 15,000,000) (35% x amount over 18,333,333) + + (34% + + +