2. The following information is gleamed from GFW, Inc. records:

Operating profit $300,000

Interest income $ 15,000

Dividend income $ 15,000

Interest expense $ 10,000

Dividend payments $ 6,000

1. Find the Tax Expense (use tax schedule):
2. Find the after tax income:
3. The Average Tax rate is:

table 2.3 Corporate Tax Rates as of 2018 Plus this Percentage Taxable Income Pay this Amount on Base Income on Anything Over the Base $0-$50,000 $ 7,500 15% $50,001-$75,000 25 $75,001-$100,000 13,750 34 $100,001-$335,000 22,250 39 $335,001-$10,000,000 113,900 34 $10,000,001-$15,000,000 3,400,000 35 $15,000,001-$18,333,333 5,150,000 38 Over $18,333,333 6,416,667 35