Please Show All Work and Calculations on Excel Spreadsheet.

14 15 For questions # 19-20, refer to the following financial information: 16 117 Assume that a corporation's pretax net income is taxable (Federal + State) based on 21% of the first $300,000, 26% of the 118 next $400,000, and 31% of anything beyond that 119 120 121 YOU MUST SHOW ALL CALCULATIONS TO EARN CREDIT (insert rows where needed): 122 123 19. If the corporation generated $1,111,000 of taxable net income, what is the corporation's average tax rate? 124 125 126 20. If the corporation generated $900,000 of taxable net income, what is the corporation's marginal tax rate? 127