Scuba, Inc. is concerned about the taxes paid by the company in 2013. In addition to $5 million of taxable income, the firm received $80,000 of interest on state-issued bonds and $500,000 of dividends on common stock it owns in Boating Adventures, Inc. What are Scuba's tax liability, average tax rate, and marginal tax rate, respectively?
A) $1,637,100, 31.79%, 34%
B) $1,751,000, 34.00%, 34%
C) $1,870,000, 34.00%, 34%
D) $1,983,900, 36.07%, 34%
Correct Answer:
Verified
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