(Computing income taxes) Sandersen Inc. sells minicomputers. During the past year, the company's sales were $3.00 million. The cost of its merchandise sold came to $2.00 million, and cash operating expenses were $400,000; depreciation expense was $100,000, and the firm paid $150,000 in interest on its bank loans. Also, the corporation paid $25,000 in the form of dividends to its own common stockholders. 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% 25% 34% 35% Additional surtax: 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333 $0 $50,000 $50,001$75,000 $75,001$10,000,000 over $10,000,000