Corporate Tax Liability

The Talley Corporation had taxable operating income of $410,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $60,000, (2) dividends received of $25,000, and (3) dividends paid of $30,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt.

What is the firm's taxable income? Round your answer to the nearest dollar.

$362500

What is the tax expense? Round your answers to the nearest dollar.

$76125

What is the after-tax income? Round your answers to the nearest dollar.

$?????????