Please help find the answer with full explanation

Widget Industries erected a facility costing $1.56 million on land bought for $1 million. The firm used straight-line depreciation over a 39-year period; it installed $2.5 million worth of plant and office equipment (all classified as MACRS 7-year property). Gross income from the first year of operations (excluding capital expenditures) was $8.2 million, and $5.8 million was spent on labor and materials. How much did Widget pay in federal income taxes for the first year of operation? (a) $680, 935 (b) $1,002, 750 (c) $1, 321, 815 (d) $2, 788,000