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P2-1Corporate taxesTantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2010 the firm earned $92,500 before taxes.a. Calculate the firm’s tax liability using the corporate tax rate schedule given in Table 2.1.b. How much are Tantor Supply’s 2010 after-tax earnings?c. What was the firm’s average tax rate, based on your findings in part a?d. What is the firm’s marginal tax rate, based on your findings in part a?

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