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Pearls Inc had sales in 2013 of 2.1 Million. The common stock holders recieved 600,000 in cash dividends. Interest totaling 150,000 was paid on outstanding debts. Operating expenses totaled 300,000, and COGS was 500,000. What is the tax liability of Pearls Inc? Corperate tax rates are shown below:
Taxable income Marginal Tax Rate
0-50,000 15%
50,001-75000 25%
75001-100,000 34%
100,001-335,000 39%
335,001-10,000,000 34%
10,000,001-15,000,000 35%
15,000,001-18,333,333 38%
Over 18,333,333 35%
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