Homework: Unit 2 Lab Learning Activity Save Score: 0 of 1 pt 5 of 5 (3 complete) HW Score: 60%, 3 of 5 pts Question Help B3-6 (book/static) (Corporate income tax) The Robbins Corporation is an oil wholesaler. The firm's sales last year were $1.00 million, with the cost of goods sold equal to $600,000. The firm paid interest of $200,000 and its cash operating expenses were $100,000. Also, the firm received $40,000 in dividend income from a firm in which the firm owned 22% of the shares, while paying only $10,000 in dividends to its stockholders. Depreciation expense was $50,000. Use the corporate tax rates shown in the popup window, , to compute the firm's tax liability. What are the firm's average and marginal tax rates? The Robbins Corporation's tax liability for the year is $ 1500. (Round to the nearest dollar.) Data Table Taxable income Marginal Tax Rate $0 - $50,000 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 (Click on the icon in order to copy its contents into a spreadsheet.) 35% Print Done