QU12 Unit & Lap QUIL Question b This Quiz: 40 pts possidie Submit Quiz (Corporate income tax) G. R. Edwin Inc. had sales of $5.85 million during the past year. The cost of goods sold amounted to $2.4 million. Operating expenses totaled $2.57 million, and interest expense was $30,000. Use the corporate tax rates shown in to determine the firm's tax liability. What are the firm's average and marginal tax rates? the popup window, The firm's tax liability for the year is S (Round to the nearest dollar.) The firm's average tax rate is %. (Round to two decimal places.) The firm's marginal tax rate is %. (Round to the nearest integer.) Data Table Taxable Income $0-$50,000 Marginal Tax Rate 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 35% (Click on the icon in order to copy its contents into a spreadsheet) Print Done X