The Dakota Corporation had a 2015 taxable income of $28,500,000 from operations after all operating costs but before (1) interest charges of $8,100,000; (2) dividends received of $710,000; (3) dividends paid of $5,050,000; and (4) income taxes.

a.	Use the tax schedule in Table 2.3 to calculate Dakotas income tax liability. (Round your answer to the nearest dollar amount.)

Income tax liability

$

b.	What are Dakotas average and marginal tax rates on taxable income? (Round your answers to the nearest whole percent.)

Average tax rate	%
Marginal tax rate	%

table 2.3 Corporate Tax Rates as of 2015 Pay this Amount Taxable Income on Base Income $0-$50,000 $50,001-$75,000 7.500 $75,001-$100,000 13.750 $100,001-$335,000 22,250 $335,001-$10,000,000 113,900 3,400,000 $10,000,001-$15,000,000 5,150,000 $15,000,001-$18,333,333 over $18,333,333 6,416,667 Plus this Percentage on Anything Over the Base 15% 25 34 39 34 35 35