A consumer electronics company was formed to sell a portable handset system. The company purchased a warehouse and converted it into a manufacturing plant for $2,000.000 (including the purchase price of the warehouse). It completed installation of assembly equipment worth $1, 500.000 on December 31. The plant began operation on January 1. The company had a gross income of $2, 500,000 for the calendar year. Manufacturing costs and all operating expenses, excluding the capital expenditures. were$1, 280,000 The depreciation expenses for capital expenditures amounted to $128.000 Compute the taxable income of this company. How much will the company pay in federal income taxes for the year