CORPORATE TAX RATE 21%

Arrowhead Corporation had sales of $18 million and costs of goods sold of $3 million. Operating expenses amounted to $2,500,000. The firm had $8 million in 6.5% bonds outstanding. The firm had $830,000 in depreciation expense. Also, The firm sold 1,250 shares of JRAC Corporation stock for $150 per share. Arrowhead had purchased the shares for $110 per share two years ago. The firm also sold land for $2.8 million that it had purchased earlier for $2.2 million. Calculate the firm's tax payment $2,450,700 $2,352,000 O $2,478,000 $2,587,200 $2,341,500