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Use the corporate income tax rate schedule in Table below of the chapter to calculate the following: Firm 2012 Pretax Income Tax Liability Average Tax

Use the corporate income tax rate schedule in Table below of the chapter to calculate the following: Firm 2012 Pretax Income Tax Liability Average Tax Rate A $11,000,000 A. Tax liability and average tax rate for firm A. B. Average tax rate Tax Table Taxable income over Not over Tax Rate $ 0 $ 50,000 15% 50,000 75,000 25% 75,000 100,000 34% 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 ............... 35%

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