P16 Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2018, the firm earned $92,500 before taxes.

1. Calculate the firms tax liability.

2. How much are Tantor Supplys 2018 after-tax earnings?

3. What was the firms average tax rate, based on your findings in part a?

4. What was the firms marginal tax rate, based on your findings in part a?