3. In the current year, Werbung Corporation ( a Calendar year C corporation ) had operating income of $430,000 and operating expenses of $355,000. In addition, Werbung had a long-term capital gain of $25,000, a long-term capital loss of $2,000 and a short-term capital loss of $30,000.

Compute Werbungs taxable income and tax for the year.

Taxable income $ ________

Income tax $ ________