Question: To complete the assignments listed below, refer to the Table 2-1.
The Talley Corporation had a taxable income of $335,000 from operations after all operating costs but before (1) interest charges of $33,500, (2) dividends received of $16,750, (3) dividends paid of $13,400, and (4) income taxes.
What are the firm's income tax liability and its after-tax income? Round your answers to two decimal places.
Income tax liability $
After-tax income $
What are the company's marginal and average tax rates on taxable income? Round your answers to two decimal places.
Marginal tax rate %
Average tax rate %