I'm confused on how to do this problem. Please show me a step by step calculation. Thank you. I originally had 172,231, but it is incorrect.

(Computing income taxes) The William B. Waugh Corporation is a regional Toyota dealer. The firm sells new and used trucks and is actively involved in the parts business. During the most recent year, the company generated sales of $3.16 million. The combined cost of goods sold and the operating expenses were $2.17 million. Also, $418,000 in interest expense was paid during the year. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, The corporation's tax liability is S. (Round to the nearest dollar.) Data Table Corporate Tax Rates 15% 25% 34% 35% Additional surtax: 5% on income between $100,000 and $335,000 $0 $50,000 $50,001-$75,000 $75,001$10,000,000 over $10,000,000 3% on income between $15,000,000 and $18,333,333