Problem 4 Part 1 What is the correctly calculated tax due on a corporate taxable income of $13,550,000? 2017 Corporate Tax Rates: Tax rate Tax computation 15% $0 + 0.15(4) 25% $7,500+ 0.25 (4) 34% $13,750 + 0.34(4) 39% $22,250 + 0.39 (A) Taxable income 0-$50,000 $50,001-$75,000 $75,00 1-$100,000 $100,001-$335,000 2018 Corporate Tax Rates: Taxable income Tax rate 0-$50,000 $50,001-$75,000 21% $75.001-$100,000 $100,001-$335.000 $335.001-$10,000,000 $10,000,001-$15,000,000 21% $15,000,001-$18,333.333 21% $18,333.334 and Up 21% 21% 21% 21% 21% Instructions: Using 2017 Corporate Income Tax Rates, calculate the tax due and the effective tax rate to be paid: Note: Enter the answers in the table below in the format 1234.00 (using absolute values only: don't worry about negative values), with commas, or any symbol (e.8. $. te etc.)