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The Dakota Corporation had a 2015 taxable income of $23,000,000 from operations after all operating costs but before (1) interest charges of $3,700,000. (2) dividends

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The Dakota Corporation had a 2015 taxable income of $23,000,000 from operations after all operating costs but before (1) interest charges of $3,700,000. (2) dividends received of $310.000. (3) dividends paid of $2,150,000, and (4) income taxes a. Use the tax schedule in Table 23 to calculate Dakota's income tax liability (Round your answer to the nearest dollar amount.) Income tax liability b. What are Dakota's average and marginal tax rates on taxable income? (Round your answers to 2 decimal places.) Average tax rate Marginal tax rate table 2.3 Corporate Tax Rates as of 2018 Taxable income Pay this Amount on Base Income O $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 Over $18,333,333 Plus this Percentage on Anything Over the Base 15% 25 34 39 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6.416,667 34 35 38 35

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