Task 3: (2 Marks) An electronics company was formed to develop wireless devices that are operated by fuel cells. The company acquired a warehouse and was transformed into a production plant by investing $6,000,000. It then completed installation of manufacturing equipment by spending $1,500,000 on the last day of year. The plant was operational on 1st January of the following year. The firm reported a gross income of $8.5 million for the calendar year. Manufacturing costs and all operating costs (except the capital expenditures) were $2.28 million. The depreciation costs for capital expenditures was $456,000. a) Calculate the taxable income of the company b) How much would be the company federal income taxes for the year? [1 Mark] [1 Mark]