Question 11: Practice

Last year, Martyn Company had $150,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income. Using the corporate tax rate table given below, what was the companys tax liability for the year? Answer: $72,950

Please show work without excel! Thank you :)

S0-$50.000 S50,000-$75,000 $75,000-$100,000 $100,000-S335,000 335,000-s10,000,000 $10,000,000-$15,000,000 S15,000,000-$18,333,333 Over $18,333.333 S0 7.500 13.750 22,250 113.900 3.400,000 5,150,000 6,416,667 15% 25 34 39 34 35 38 35