Using the tax rates shown in Table 2A.1, determine the expected annual tax liability of Kaiser Enterprises (a new firm formed in 2015), if the firm anticipates the following stream of taxable income: Year 2015 2016 2017 2018 2019 2020 Taxable Income $40,000 95,000 (160,000) 120,000 140,000 (60,000) TABLE 2A.1 2015 Corporate Tax Rates Taxable Income Up to $50,000 Marginal Tax Rate 15% $50,001-$75,000 25% $75,001-$100,000 34% $100,001-$335,000 39% $335,001-$10,000,000 34% $10,000,001-$15,000,000 35% $15,000,001-$18,333,333 38% Over $18,333,333 35% Tax Calculation Base Tax + (Marginal Tax Rate x Amount over Base Income) 0+ (15% x Amount over $0) $ $ 7,500 (25% x Amount over $50,000) $ 13,750+ (34% x Amount over $75,000) $ 22,250+ (39% x Amount over $100,000) $ 113,900 (34% x Amount over $335,000) $3,400,000+(35% x Amount over $10,000,000) $5,150,000+ (38% x Amount over $15,000,000) 35% x Taxable Income