During 2017, Miami Inc. had sales revenue $1,328,000, gross profit $728,000, operating expenses $398,000, cash dividends $90,000,
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During 2017, Miami Inc. had sales revenue $1,328,000, gross profit $728,000, operating expenses $398,000, cash dividends $90,000, other expenses and losses $40,000. Its corporate tax rate is 30%. What was Miami's income tax expense for the year
a). $ 60,000
b). $ 87,000
c). $ 99,000
d). $267,000
e). $218,400
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