Oakdale Fashions, Inc., had $325,000 in 2015 taxable income. Use the tax schedule in Table 2.3 to calculate the companys 2015 income taxes.

Income taxes $ _____

What is the average tax rate? ____% (Round your answer to 2 decimal places.)

What is the marginal tax rate? ____ %

table 2.3 Corporate Tax Rates as of 2015 Pay this Amount on Base Income Plus this Percentage on Anything Over the Base Taxable Income $0-$50,000 $50,001-$75,000 $75,001-$100,000 $100,001-$335,000 $335,001-$10,000,000 $10,000,001-$15,000,000 $15,000,001-$18,333,333 Over $18,333,333 0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 15% 25 34 39 34 35 38 35