The Robbins Corporation is an oil wholesaler. The firm's sales last year were $1.09 million, with the cost of goods sold equal to $660,000. The firm paid interest of $222,500 and its cash operating expenses were $103,000. Also, the firm received $42,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only $10,000 in dividends to its stockholders. Depreciation expense was $50,000. Use the corporate tax rates shown in the popup window, LOADING... , to compute the firm's tax liability. What are the firm's average and marginal tax rates? Taxable Income Marginal Tax Rate

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$15,000,000	35%
$15,000,001$18,333,333	38%
Over $18,333,333	35%