TABLE 2.3 Taxable income Tax Rate Corporate tax rate 15% 25 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+ 18. Marginal versus Average Tax Rates. (Refer to Table 2.3.) Corporation Growth has $76,500 in taxable income, and Corporation Income has $7,650,000 in taxable income. a. What is the tax bill for each firm? b. Suppose both firms have identified a new project that will increase taxable income by $10,000. How much in additional taxes will each firm pay? Why is this amount the same