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The Talley Corporation had a taxable income of $495,000 from operations after all operating costs but before (1) interest charges of $99,000, (2) dividends received
The Talley Corporation had a taxable income of $495,000 from operations after all operating costs but before (1) interest charges of $99,000, (2) dividends received of $29,700, (3) dividends paid of $19,800, and (4) income taxes. What are the firm's income tax liability and its after-tax income? Round your answers to the nearest cent. Income tax liability $ After-tax income $ What are the company's marginal and average tax rates on taxable income? (Hint: the average tax rate is the average rate paid on all income.) Round your answers to two decimal places. Marginal tax rate % Average tax rate %
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