Score: 0 of 1 pt P3-7 (similar to) Queation Help Cerperate income tax) Saies for J. P. Hulett Inc. during the past year amounted to $4.1 million. Gross profits totaled $1.04 million, and operating and depreciation expenses were $493,000 and $341,000 respectively Dividend income for the year was $14,000, which was paid by a firm in which Hulett owns 85 percent of the shares Use the corporate tax rates shown in the popup windowBEB o Comeune the corporaion's tax lablity. What are the firm's average and marginal tax raes? The fem's tax lability for the year isRound to the nearest dolar