(Computing income taxes) Sales for L. B. Menielle Inc. during the past year amounted to $5.04 million. The firm provides parts and supplies for oil field service companies. Gross profits for the year were $3.08 million. Operating expenses totaled $1.18 million. The interest income from the securities owned was $20,000. The firm's interest expense was $103,000. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, .. The corporation's tax liability is $ (Round to the nearest dollar.) - Data table Corporate Tax Rates 15% $0-$50,000 25% $50,001$75,000 34% $75,001$10,000,000 35% over $10,000,000 Additional surtax 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333 (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.)