Paragraph 5 Styles The following hypothetic tax bracket is given for question 1 and 2. TABLE 2.3 Corporate Tax Rates for 2017 Taxable Income Tax Rate S 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 18.333.334+ 35 Q1 Suppose your firm earns $9 million in taxable income. What is the firm's tax liability? A. 1,360,000 I B. 2,040,000 C. 2,720,000 D. 3,060,000+ Q2 Table 2.3 is given. Suppose your firm earns $9 million in taxable income. What is the average tax rate? A. 34% B. 39%- C. 25% D. 15%