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[Steps Shown] Corporate taxes. Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2013,

Question: Corporate taxes. Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2013, the firm earned $92,500before taxes.

  1. Calculate the firm’s tax liability using the corporate tax rate schedule given in Table 2.1.
  2. How much are Tantor Supply’s 2013 after-tax earnings?
  3. What was the firm’s average tax rate, based on your findings in part a?
  4. What was the firm’s marginal tax rate, based on your findings in part a?

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