A construction company had a gross income of $34,000,000 in tax-year 1, $5,000,000 in salaries, $4,000,000 in wage, $1,000,000 in depreciation expenses, a loan principal payment of $200,000, and a loan interest payment of $210,000.
a) What is the marginal tax rate for the company in tax year 1?
b) What is the average tax rate in tax-year 1?
c) Determine the net income of the company in tax year 1.