Using the individual tax rate schedule, perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $10,000; $80,000; $300,000; $500,000; $1.0 million; $1.5 million; and $2.0 million. b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables? a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $10,000; $80,000; $300,000; $500,000; $1.0 million; $1.5 million; and $2.0 million. (Round dollars to the nearest cent and round percentages to one decimal place.) Before-Tax Earnings Tax Liability After-Tax Earnings Average Tax Rate $10,000 Data table $ $ % (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) TABLE 1.2: Federal Income Tax Rates and Brackets for Individual Returns (2018) Taxable Income Tax Rates 10.0% $0 to $9,875 10% of taxable income 12.0% 22.0% 24.0% 32.0% 35.0% $9,876 to $40,125 $40,126 to $85,525 $85,526 to $163,300 $163,301 to $207,350 $207,351 to $518,400 37.0% Over $518,401 Taxes $987.50, plus 12% of the amount over $9,875 $4,617.50, plus 22% of the amount over $40,125 $14,605.50, plus 24% of the amount over $85,525 $33,271.50, plus 32% of the amount over $163,300 $47,367.50, plus 35% of the amount over $207,350 $156,235.50, plus 37% of the amount over $540 100