ter (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, as operating expenses excluding 0/22 depreciation of $105,000 were $393,000, and the firm paid 5153 000 in interest on its bank loans. Also, the corporation received $50,000 in dividend income (from a opo 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? mite ons The firm's tax liability for the year is (Round to the nearest dollar) Part 1 of 3 Data table e income tax) Last on of $105,000 were h which it owned les un in the popup wind perating expense poo in dividend ir Irs. Use the corp tax liability for the yo 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 - 515,000,000 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.) Print Done me solve this View an example Get more help Clear all Check