tax rate:

0-50k: 15%

50-75k- 25%

75-100k-34%

100k-335k: 39%

335-10mil: 34%

10mil-15mil: 35%

15mil-18.3mil 38%

over 18mil 35%

(Corporate income tax) Last year Sanderson, Inc. had sales of $3.3 million. The firm's cost of goods sold came to $2.1 million, its operating expenses excluding depreciation of $104,000 were $401,000, and the firm paid $145,000 in interest on its bank loans. Also, the corporation received $50,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup window, ! , to calculate the corporation's tax liability. What are the firm's average and marginal tax rates? The firm'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.) (Corporate income tax) Last year Sanderson, Inc. had sales of $3.3 million. The firm's cost of goods sold came to $2.1 million, its operating expenses excluding depreciation of $104,000 were $401,000, and the firm paid $145,000 in interest on its bank loans. Also, the corporation received $50,000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup window, ! , to calculate the corporation's tax liability. What are the firm's average and marginal tax rates? The firm'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.)