Problem 2-25 Corporate Taxes (LG2-3) The Dakota Corporation had a 2015 taxable income of $20,000,000 from operations after all operating costs but before (1) interest charges of $3,500,000. (2) dividends received of $290,000, (3) dividends paid of $2,050,000, and (4) Income taxes. a. Use the tax schedule in Table 2.3 to calculate Dakota's income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability ini b. What are Dakota's average and marginal tax rates on taxable incomo? (Round your answers to 2 decimal places.) Keroncos Average tax rate Marginal tax rate table 2.3 Corporate Tax Rates as of 2018 Taxable income $0-$50,000 $50,001-$75,000 $75,001-$100,000 $100,001-5335,000 $335,001-510,000,000 $10,000,001-$15,000,000 $15,000,001-518,333,333 Over $18,333,333 Pay this Amount on Base Income 0 7,500 13,750 22,250 113.900 3,400,000 5,150,000 6,416,667 Plus this Percentage on Anything Over the Base 15% 25 34 39 34 35 38 35