Alcan Ltd had sales of $$3$m Cost of goods sold $$1\mathrm{.}8$m$,$ Operating expenses $$800,000$ and interest expenses of $$200,000.$

Taxable Income

Marginal Tax rate

$0-25,000$

$15\%$

$25,001-75,000$

$25\%$

$75,001-100,000$

$34\%$

$100,001-250,000$

$39\%$

$250,000-1,250,001$

$34\%$

Required: Calculate the tax liability for the year? a$.$

$$63,750\mathrm{.}00$

b$.$

$$76,350\mathrm{.}00$

c$.$

$$56,030\mathrm{.}00$

d$.$

$$68,650\mathrm{.}00$