Suppose your firm earns $4 million in taxable income. What is the firms tax liability? What is the average tax rate? What is the marginal tax rate? CAN YOU SHOW ME THE FORMULA TO USE FOR THAT

Tax on $4 million Tax Liability on $4,000,000 Corporate Tax Rates Taxable Tax Taxable Income Levels Tax Rate Income Liabili 7,500 6,250 8,500 50,000 | 75,000| 100,000| 335,000 | 10,000,000| 15,000,000 | 18,333,333 | 50,001$ 75,001$ 100,001$ 335,001|$ 10,000,001|$ 15,000,001|$ 15% 25% 34% 39% 34% 35% 38% 35% |$ |$ |$ |$235,000 | $ 91,650 |$3,665,000| $1,246,100 50,000|$ 25,000|$ 25,000|$ 18,333,334 $4,000,000 $ 1,360,000 Average Rate Marginal Rate : 34% 34% 17