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Ross Company, a manufacturer of pharmaceuticals, has pretax ordinary income of $494,000 and has just sold an asset purchased two years ago with a realized

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Ross Company, a manufacturer of pharmaceuticals, has pretax ordinary income of $494,000 and has just sold an asset purchased two years ago with a realized capital gain of $33,000. Using this table , calculate the tax liability for the company this year. The tax liability this year is $. (Round to the nearest dollar.) Data Table Corporate Tax Rate Schedule + Range of taxable income $0 to $50,000 50,000 to 75,000 75,000 to 100,000 100,000 to 335,000 335,000 to 10,000,000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax $0 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% Tax calculation (Marginal rate x amount over base bracket) x amount over $0) x amount over 50,000) x amount over 75,000) x amount over 100,000) X amount over 335,000) X amount over 10,000,000) X amount over 15,000,000) x amount over 18,333,333) + +

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