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Corporate Tax Liability The Talley Corporation had taxable operating income of $450,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1)

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Corporate Tax Liability The Talley Corporation had taxable operating income of $450,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) Interest charges of $60,000, (2) dividends recelved of $15,000, and (3) dividends paid of $20,000. 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 doliar. What is the tax expense? Round your answers to the nearest dollar: What is the after-tax income? Round your answers to the nearest dollar

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