(Computing income taxes) The William B. Waugh Corporation is a regional Toyota dealer. The firm sells new and used trucks and is actively involved in the parts business. During the most recent year, the company generated sales of $3.02 million. The combined cost of goods sold and the operating expenses were $2.14 million. Also, $399,000 in interest expense was paid during the year. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, The corporation's tax liablit s (Round to the nearest dola.) (Round to the nearest dollar.) Corporate Tax Rates 15% 25% 34% 35% Additional surtax: $0-$50,000 $50,001-$75,000 $75,001-$10,000,000 over $10,000,000 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333