TIIS QUIZ: 4 pas possibIC Submit Quiz (Corporate income tax) Barrington Enterprises earned $3.5 million in taxable income (earnings before taxes) during its most recent year of operations. Use the corporate tax rates shown in the popup window, to calculate the firm's tax liability for the year. What are the firm's average and marginal tax rates? The firm's tax liability for the year is The firm's average tax rate is The firm's marginal tax rate is (Round to the nearest dollar) % (Round to two decimal places.) % (Round to the nearest integer.) Data Table Taxable Income $0-$50,000 Marginal Tax Rate 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% (Click on the icon in order to copy its contents into a spreadsheet.) Print Done X