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xix. Last year, Martyn Company had $500,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income Using the corporate
xix. Last year, Martyn Company had $500,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income Using the corporate tax rate table given below, what was the company' s tax liability for the year? Tax on Base Percentage on Excess above Base 15% 25 34 39 34 35 38 35 Tazable Income $0-$50, 000 $50,000-$75,000 $75,000-$100,000 $100,000-$335, 000 $335, 000-$10, 000,000 $10,000,000-$15, 000,000 $15,000,000-$18,333,333 Over 18,333,333 of Bracket S0 7,500 13,750 22,250 113,900 3, 400,000 5,150,000 6, 416, 667 a. $177,973 2. $187,340 $197,200 d207,060 e $217,413
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