Use the current IRS Federal Corporate Tax Rate Schedule for single filers to answer the next two questions: Rate Income bracket 10% $0-$9,525 12% $9,525-$38,700 22% $38,700-$82,500 24% $82,500-$157,500 32% $157,500-$200,000 35% $200,000-$500,000 37% $500,000 and up 7. Calculate the tax bill on $80,000 in taxable income. A. $13,539.50 B. $14,089.50 C. $16,800.00 D. $17,600.00 E. $18,635.20 8. How much would you bring home after taxes on the next $5,000 (above $80,000) in taxable income? A. $3,750 B. $3,800 C. $3,850 D. $3,900 E. Cannot be determined