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During the past year, Reliable Corporation had sales of $5 million cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of

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During the past year, Reliable Corporation had sales of $5 million cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. The firm received $40.000 in dividend income. Reliable has $2.5 million in 8% coupon bonds outstanding. Also, Reliable soid stock during the year, receiving a $60,000 gain on stock owned 6 years, but losing $40,000 on stock owned 4 years. What is the firm's tax payment? During the past year, Reliable Corporation had sales of $5 million cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. The firm received $40.000 in dividend income. Reliable has $2.5 million in 8% coupon bonds outstanding. Also, Reliable soid stock during the year, receiving a $60,000 gain on stock owned 6 years, but losing $40,000 on stock owned 4 years. What is the firm's tax payment

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