Pendelton, Inc is a corporation that produces textiles in the United States. Calculate the corporate income tax Pendelton must they pay on $1500000 of taxable income. Use the following tax table to calculate the tax liability from the answers below. Income Level........... Tax Rate

0 50,000 ..............15%

50,000 75,000 .........25%

75,000 100,000 ........30%

100,000 335,000 .......34%

335,000 - 3,000,000 .....35%

over 3,000,000 ..........37%