Corporate Tax Liability The Talley Corporation had taxable operating income of $320,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $50,000, (2) dividends received of $15,000, and (3) dividends paid of $25,000. 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. $ 277500 What is the tax expense? Round your answers to the nearest dollar. $ 57750 What is the after-tax income? Round your answers to the nearest dollar. $ 219200