Last year Sanderson, Inc. had sales of 3.9 million. The firm's cost of goods sold came to 2.5 million, its operating expenses excluding depreciation of 105000 were 402000 , and the firm paid 150000 in interest on its bank loans. Also, the corporation received 52000 in dividend income (from a company in which it owned less than 20 percent of its shares) but paid 22000 in the form of dividends to its own common stockholders. Use the corporate tax rates shown in the popup window, ., to calculate the corporation's tax liability. What are the firm's average and marginal tax rates?
