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A. Robbins Corporation is a retail dealer for electrical equipment. The taxable income is $701,500. Calculate the tax liability. Corporate Tax Rate 15% $ 0$50,ooo 25% 5 50001471000 34% $75,001$10.000,000 35% over $10,000,000 Additional surtax: '5% on income between $100,000 and $335,000. '3% on income between $15,000,000 and $18,333,333. B. 'Taxes are in tact of life, and businesses, like individuals, must pay taxes on Income Elucidate