The Dakota Corporation had a 2015 taxable income of $34,500,000 from operations after all operating costs but before (1) interest charges of $8,700,000; (2) dividends received of $770,000; (3) dividends paid of $5,350,000; and (4) income taxes.

A. Use the tax schedule in Table 2.3 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 the nearest whole percent.)

Average tax rate = %

Marginal tax rate= %