Using the following tax rate schedule, answer the following questions: a. Find the marginal tax rate for the following level of corporate earnings before tax: (i) $87,500; and (ii) $400,000 b. For each of the above cases, how much would the companys after tax earnings be? c. For each of the above cases, what is the effective tax rate?

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Corporate Tax Rate Schedule Range of taxable income Base tax rate + (Marginal rate x amount over base braket) O to 50,000 to 75,000 to 100,000 to 335,000 to 10,000,000 to 15,000,000 to 18,333,333 and up 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 0 + 7500 + 13750 + 22250 + 113900 + 3400000 + 5150000 + 6416667 + (15% x amount over $0) (25% x amount over $50,000) (34% x amount over $75,000) (39%x amount over $100,000) (34% x amount over $335,000) (35% x amount over $10,000,000) (38% x amount over $15,000,000) (35% x amount over $18,333,333) Corporate Tax Rate Schedule Range of taxable income Base tax rate + (Marginal rate x amount over base braket) O to 50,000 to 75,000 to 100,000 to 335,000 to 10,000,000 to 15,000,000 to 18,333,333 and up 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 0 + 7500 + 13750 + 22250 + 113900 + 3400000 + 5150000 + 6416667 + (15% x amount over $0) (25% x amount over $50,000) (34% x amount over $75,000) (39%x amount over $100,000) (34% x amount over $335,000) (35% x amount over $10,000,000) (38% x amount over $15,000,000) (35% x amount over $18,333,333)