21%

Question 4 1 pts Reliable Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Reliable also paid operating expenses of $225,000, and $26,500 in interest expense. Also, the firm received $40,000 in dividend income and experienced a $10,000 capital gain on the sale of property. Compute the corporation's tax payment O $64,050 O $70,350 O $74,550 O $68,250 O $69,615 Question 5 1 pts Reliable Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, the firm sold 30,000 shares of JRAC Company common stock for $16 a share. Reliable had purchased these shares two years ago for $11 a share. Also, Reliable received $50,000 in dividend income for the year. Calculate Reliable Corporation's tax liability O $585,900 $554,400 O $591.150 $596,400 O $588.000