Question 1 Marginal and average tax rates: Use the tax rate taken from Exhibit 11.6 to calculate the total taxes paid for Lansing, Inc., this pretax income was $275,000. Exhibit 11.6 U.S. Corporate Tax Rate Schedule in 2007 Taxable Income More Than But Not More Than Tax Owed s0 $50,000 $75,000 $100,000 $335,000 10,000,000 $15,000,000 $18,333,333 $50,000 $75 | 25% or amount beyond $50,000 $7,500 . $13,750 + $22,250 $100,000 $335,000 $10,000,000 $15,000,000 $18,333,333 34% of amount beyond $75,000 39% of amount beyon 35% of amount 35% on all income d$100,000 $3,400,000 + O $90,500 $68,250 $107,250 522,500