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Corporation A has $85,949 in taxable income, and Corporation B has $5.7 million in taxable...

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Accounting

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Corporation A has $85,949 in taxable income, and Corporation B has $5.7 million in taxable income. Using the tax rates from Table 2.3, what is the difference between the tax bills of these two firms? (Do not round intermediate calculations and round your final answer to the nearest dollar amount. Omit the "$" sign and commas in your response. For example, $123,456.78 should be entered as 123457.) Taxable income Tax Rate TABLE 2.3 0- 50,000 15% Corporate Tax Rates 50,001 - 75,000 25 75,001 100,000 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 18,333,334 + 38 35

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