Suppose that in addition to the $300,000 of taxable income fromoperations, Liam’s Burgers, Inc. received $25,000 of interest onstate-issued bonds and $50,000 of dividends on common stock it ownsin Sodas, Inc.Using the tax schedule, what is Liam’s income tax liability?What are Liam’s average and marginal tax rates ontotal taxable income?
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