U.S. Corporate Tax Rate Schedule

Taxable Income (in $) Marginal Tax Rate

0 50,000 15%

50,000 - 75,000 25%

100,000 - 335,000 39%

335,000- 10,000,000 34%

10,000,000- 15,000,000 35%

15,000,000- 18,333,333 38%

18,333,333-

Based on the U.S. Corporate Tax Rate Schedule above, calculate the tax liability (in dollars) for a corporation with taxable income of $264,700.

I need help calculating the tax liability.