Problem 1 Part 1 - Corporation On April 1, 2020, a corporation with a December 31 taxation year purchased a three-year investment certificate for $20,000. The certificate pays interest only at the end of the three-year term but interest is compounded annually at the rate of 9%. Currently, the corporation's marginal tax rate is 28%. However, in 2021, the marginal tax rate will decrease to 24%. 06 Part 2 Individual An individual makes the identical investment on April 1, 2020. The individual's marginal tax rate in 2020 is also 28% and is expected to decrease to 24% in 2021. Required: Complete the table below to show the interest income and the tax liability each year for the corporation and the individual. Corporation Interest Tax income Liability Individual Interest Tax income Liability 2020 2021 2022 2023 Total 0 0 0 0