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table [ [ Taxable Income,Marginal Tax Rate ] , [ $ 0 - $ 5 0 , 0 0 0 , 1 5 %

\table[[Taxable Income,Marginal Tax Rate],[$ 0- $50,000,15%],[$50,001- $75,000,25%],[$75,001- $100,000,34%],[$100,001- $335,000,39%],[$335,001- $10,000,000,34%],[$10,000,001- $15,000,000,35%],[$15,000,001- $18,333,333,38%],[Over $18,333,333,35%]]
(Click on the icon in order to copy its contents into a spreadsheet.)(Corporate income tax) The Robbins Corporation is an oil wholesaler.
The firm's sales last year were $1.01 million, with the cost of goods sold
equal to $600,000. The firm paid interest of $202,750 and its cash
operating expenses were $105,000. Also, the firm received $43,000 in
dividend income from a firm in which the firm owned 22% of the shares,
while paying only $10,000 in dividends to its stockholders. Depreciation
expense was $51,000. Use the corporate tax rates shown in the
popup window, , to compute the firm's tax liability. What are the firm's
average and marginal tax rates?
The Robbins Corporation's tax liability for the year is $.(Round to the
nearest dollar.)
The firm's average tax rate is
%.(Round to two decimal places.)
The firm's marginal tax rate is
%.(Round to the nearest integer.)
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