$(20$ points$)$ Using the following post$-2018$ tax cut tax rate schedule for Federal and Arkansas State

corporate taxes, answer the following for XZY Corporation:

For an Arkansas$-$based corporation that will earn $$200,000$ in $2018$:

a$.$ What is the: $($i$)$ Federal marginal tax rate; $($ii$)$ Arkansas state marginal tax rateb. What is the

combined Federal and Arkansas state marginal tax rate?

c$.$ What will the company's earnings after tax be after accounting for Federal and Arkansas state

corporate taxes?

d$.$ What will the effective tax rate be after accounting for Federal and Arkansas state corporate taxes?

e$.$ XYZ Corporation has cumulative preferred stock but stopped paying preferred dividends three years

ago, but just paid all back and current dividends. If the company has surplus earnings this year, even

though it has no cash, and the Board wants to pay common stock dividends beginning this year, can it

do so$?$ If so$,$ how much, and if not, why not?