P3-7 (similar to) (Corporate Income tax) Sales for JP Hule Inc. during the past year amounted to 543 milion Gross profits totaled $1.05 milion, and operating and depreciation expenses were 5510,000 and 513,000, respectively Dividend Income for the year was $10,000, which was paid by a firm in which Helms 35 percent of the shares. Use the corporate tax rates shown in the popup window, E. to Comcute the corporation's tax liability. What are the firm's average and marginal tax rates? The fune's tax latitty for the years (Round to the rest dollar) Taxable Income Marginal Tax Rate $0 - $50,000 15% $50,001 - $75,000 25% $75,001 - $100,000 34% $100,001 - $335,000 39% $335,001 - $10,000,000 34% $10,000,001 - $15,000,000 35% $15,000,001 - $18,333,333 38% Over $18,333,333 35%