Extracted text: Question 16, P1-8 (book/static) Part 1 of 18 > Marginal corporate tax rates Using the corporate tax rate schedule given here i, perform the following: a. Find the marginal tax rate for the following levels of corporate earnings before taxes: $12,000; $40,000; $70,000; $90,000; $300,000; $550,000; $1.3 million; and $22 million. b. Plot the marginal tax rate (measured on the y-axis) against the pretax income levels (measured on the x-axis). Explain the relationship between the marginal tax rate and pretax income levels. a. The marginal tax rate for corporate earnings before taxes of $12,000 is %. (Round to the nearest integer.) More info Corporate Tax Rate Schedule Tax calculation Taxable income brackets Base tax (Marginal rate x amount over bracket lower limit) $0) 50,000) 75,000) 100,000) 335,000) 10,000,000) 15,000,000) 18,333,333) $0 to $50,000 $0 x amount over (15% (25% (34% + 50,000 to 75,000 7,500 x amount over + 75,000 to 100,000 13,750 x amount over (39% (34% (35% (38% (35% 100,000 to 335,000 22,250 x amount over 335,000 to 10,000,000 113,900 x amount over 10,000,000 to 15,000,000 3,400,000 x amount over + 15,000,000 to 18,333,333 5,150,000 x amount over Over 18,333,333 6,416,667 x amount over Print Done