An electronics company began operation on January 1. The company had a gross income of $2,000,000 for the calendar year. Manufacturing costs and all operating expenses, including the capital expenditures, were $1,200,000. The depreciation expenses for capital expenditures amounted to $150,000.

(i) What is the taxable income of this company?

(ii) How much will the company pay in federal income taxes for the year