Which of the following summarizes the changes that occur to Corporate Income taxes due to the 2018 Tax Act? The corporate tax rate is reduced from 48% to 35%; dividends and interest expense will both be tax- deductible expenses for firms. There is no change to the corporate tax rate; the tax bill focused on reforming individual taxes. The corporate tax rate is slightly increased to offset reductions in individual income taxes. The corporate tax rate is reduced from 35% to 21%; expensing (rather that depreciating) capital expenditures is allowed for 5 years