Corporations earn most of their income from operations; however, they may also receive interest and dividend income. Interest income is taxed as ordinary income; however, dividend income taxed more favorably. 50% of dividends v received is excluded from taxable income, while the remaining 50% is taxed at the ordinary tax rate. For businesses, interest v payments are regarded as an expense so they are tax deductible; however, dividend payments are not tax deductible. Consequently, our tax system encourages debt financing over equity financing. Depreciation expense is tax deductible, so the larger the depreciation, the lower the taxable income, the lower the taxes, and the higher the firm's operating cash flow. Quantitative Problem: Andrews Corporation has income from operations of $241,000. In addition, it received interest income of $24,100 and received dividend income of $28,900 from another corporation. Finally, it paid $12,700 of interest income to its bondholders and paid $46,300 of dividends to its common stockholders. The firm's federal tax rate is 21%. What is the firm's federal income tax? Do not round intermediate calculations. Round your answer to the nearest dollar. $