(Refer to Table 2.3.) Corporation Growth has $80,500 in taxable income, and Corporation Income has $8,050,000 in taxable income.

Required:
(a)	What is the tax bill for each firm? (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations.)

	Tax bill
Corporation Growth	$
Corporation Income	$

(b)	Suppose both firms have identified a new project that will increase taxable income by $12,000, how much in additional taxes will each firm pay? (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations.)

	Additional taxes
Corporation Growth	$
Corporation Income	$

TABLE 2.3 Tax Rate Corporate tax rates $ 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 18,333,334+ 15% 25 34 39 34 35 38 35