Refer to the Tax Rate Table below (or Table 2.3 on page 31 in the book). Corporation Growth has $92000 in taxable income. Suppose Corporation Growth has identified a new project that will increase taxable income by $50,661. How much in additional taxes will Corporation GrowthMarginal Tax Rates pay?

Taxable income Tax Rate $ 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