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Andrews Corporation has income from operations of $250,000. In addition, it received interest income of $25,000 and received dividend income of $32,300 from another corporation.
Andrews Corporation has income from operations of $250,000. In addition, it received interest income of $25,000 and received dividend income of $32,300 from another corporation. Finally, it paid $11,900 of interest income to its bondholders and paid $46,300 of dividends to its common stockholders. The firm's federal tax rate is 21%. What is the firm's federal income tax? Do not round intermediate calculations. Round your answer to the nearest dollar.
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