Problem 2-8 Corporate Taxes (LG2-3) Hunt Taxidermy, Inc. is concerned about the taxes paid by the company in 2018. In addition to $7.5 million of taxable income, the firm received $614,000 of interest on state-issued bonds and $340,000 of dividends on common stock it owns in Oakdale Fashions, Inc. (Use Table 2.3.) Calculate Hunt Taxidermy's tax liability. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.) Tax liability Calculate Hunt Taxidermy's average tax rate. (Round your answer to 2 decimal places.) Average tax rate Calculate Hunt Taxidermy's marginal tax rate. Marginal tax rate table 2.3 Corporate Tax Rates as of 2015 Pay this Amount on Base Income Plus this Percentage on Anything Over the Base 15% 0 25 34 Taxable income $0-$50,000 $50,001-$75,000 $75,001-$100,000 $100,001-$335,000 $335,001-$10,000,000 $10,000,001-$15,000,000 $15,000,001-$18,333,333 Over $18,333,333 39 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 34 35 38 35