Assume that today is December 31, 2015. Mike Mulligan Excavation Inc. has one Caterpillar 345DL Hydraulic Excavator. It was purchased in 2014 for$ 300,000.

The excavator is classified as a 10-year property. (MACRS depreciation rates are shown in the table .)

Selected financial values for 2015 are shown in the table, below. Assume a corporate tax rate of 35 %

.How much tax is owed in 2015 if it is a regular year of operations? (Assume that the interest expense is zero.)

Selected Financial Values 2015 Mike Mulligan Excavations Inc.
Sales	$ 2,456,000

Cost of Goods Sold	$ 1,027, 000

S, G & A	$ 817,300

The tax owed is ? (Round to the nearest dollar.)