Sandersen Inc sells minicomputers During the past year the company s
Sandersen Inc. sells minicomputers. During the past year, the company’s sales were $ 3 million. The cost of its merchandise sold came to $ 2 million, and cash operating expenses were $ 400,000; depreciation expense was $ 100,000, and the firm paid $ 150,000 in interest on its bank loans. Also, the corporation paid $ 25,000 in the form of dividends to its own common stockholders. Calculate the corporation’s tax liability.
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