Use the following tax table to answer this question: Bait and Tackle has taxable income of $111,562. How much does it owe in taxes

\begin{tabular}{|r|r|r|} \hline \multicolumn{2}{|c|}{ Taxable Income } & \multicolumn{2}{c|}{ Tax Rate } \\ \hline$50.000 & 15% \\ \hline 50,001 & 75,000 & 25 \\ \hline 75,001 & 100,000 & 34 \\ \hline 100,001 & 335,000 & 39 \\ \hline 335,001 & 10,000,000 & 34 \\ \hline \end{tabular}