Jackson Heating & Air Company had sales revenue of $2,250,000 from operations during tax‐year 1. Here are some operating data on the company for that year:

Labor expenses…………………………….......................……..$550,000

Materials costs…………………………………..........................$385,000

Depreciation expenses…………………………………..............$132,500

Interest income on time deposit…………………………….......…..$6,000

Bond interest income (non-operating income) …………....……….$4,000

Interest expenses…………………………………...........................$22,200

Rental expenses…………………………………...............................$45,000

Proceeds from sale of old equipment 

with a book value of $20,000.............................................................$23,000

(a) What is Jackson’s taxable gains?
(b) What is Jackson’s taxable income?
(c) What are Jackson’s marginal and average tax rates?
(d) What is Jackson’s net cash flow after tax?