QUIZ: Unit 2 Lab QuIZ Question 7 This Quiz: 40 pts possible Submit Quiz (Corporate income tax) Meyer Inc. has taxable income (earnings before taxes) of $315,000. Calculate Meyer's federal income tax liability using the tax table shown in the popup window: What are the firm's average and marginal tax rates? The firm's tax liability for the year is $ (Round to the nearest dollar) The firm's average tax rate is % (Round to two decimal places.) The firm's marginal tax rate is (Round to the nearest integer) Data Table Taxable Income $0-$50,000 Marginal Tax Rate 15% $50,001-$75,000 25% $75,001-$100,000 34% $100,001-$335,000 39% $335,001-$10,000,000 34% $10,000,001-$15,000,000 35% $15,000,001-$18,333,333 38% Over $18,333,333 35% (Click on the icon in order to copy its contents into a spreadsheet.) Print Done X