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Use the tax rate taken from Exhibit 11.6 to calculate the total taxes paid for Lansing, Inc., this year. Lansing's pretax income was $90,000. Exhibit

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Use the tax rate taken from Exhibit 11.6 to calculate the total taxes paid for Lansing, Inc., this year. Lansing's pretax income was $90,000. Exhibit 11.6 U.S. Corporate Tax Rate Schedule in 2007 Taxable Income More But Not More Than Than Tax Owed S he $50,000|| 15% of amount beyond SO $50,000 $75.000 $7,500 - 25% of amount beyond $50,000 $75,000 $100,000 $13,750 -34% of amount beyond $75,000 $100,000 $335,000 $22,250 39% of amount beyond $100,000 $335,000 $10,000,000 $113,900 34% of amount beyond $335.000 $10,000,000 $15,000,000 $3,400,000 -35% of amount beyond $10,000,000 $15,000,000 $18,333,3331 $5,150,000 -38% of amount beyond $15,000,000 $18,333,3331 35% on all income $13,750 $30,600 $18,850 $41,750

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