Part III. Computational Questions. 10 points each. Without supporting details and explanations, you will get only partial points. 2. Peter Inc. has taxable income of $17,700,000. Calculate its total tax liability and average tax rate. Assume that the smallest unit in this case is the Cent. Round up two decimal places. Corporate Tax Rates 9% 15% 27% 39% 59% $0 - $60,000 $60,000 - $175,000 $175,000 - $440,000 $440,000 - $12,000,000 Over $12,000,000 Additional surtax: 6% on income between $175,000 and $365,000 9% on income between $16,000,000 and $18,950,000