Calculations: You can attach an Excel file to explain your answers step by step. If you prefer handwriting, you can scan it and insert it here, but we will use the Excel all though the following classes so that the Excel is recommended. You may refer to "ProblemKey_M2" for Excel usage. Partial credit will be provided if applicable. 1 New Hope Managed Care Inc. is a for-profit managed care company that serves the southwest United States. Last year, it reported $1, 200,000 in income from operations, $250,000 in interest income from bonds it bought in the previous year, and $60,000 in dividend income from shares in a large drug company. What is New Hope's average tax rate? (Please refer to Exhibit 1.1 in Chapter 1 in the textbook on Page 28 for the corporate tax rate table)