DETERMINATION OF CORPORATE TAX. Mountain Transit Service provides ground transportation from airports to ski resorts in northern Nevada. For 19x4 the following data are available from which to determine Mountain Transit’s federal income tax:

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Transportation service revenue Operating expenses Short-term capital loss Long-term capital gain Interest revenue, municipal bonds Interest expense Tax credits: Employment of disadvantaged persons Investment in pollution control equipment $938,000 792,000 27,000 38,000 7,000 11,000 4,000 21,000 REQUIRED: Compute federal income tax for Mountain Transit Service for 19x4.