A corporation in

20182018

expects a gross income of

$425 comma 000425,000,

total operating expenses of

$300 comma 000300,000,

and capital investments of

$10 comma 00010,000.

In addition the corporation is able to declare

$53 comma 00053,000

of depreciation charges for the year. The federal income tax rate is

2121%.

What is the expected taxable income and total federal income taxes owed for the year

20182018?

A corporation in 2018 expects a gross income of $425,000, total operating expenses of $300,000, and capital investments of $10,000. In addition the corporation is able to declare $53,000 of depreciation charges for the year The federal income tax rate is 21%. What is the expected taxable income and total federal income taxes owed for the year 2018? The expected taxable income for the year 2018 is S(Round to the nearest dollar)