During the year, Belyk Paving Co. had sales of $2,440,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,340,000, $645,000, and $453,000, respectively. In addition, the company had an interest expense of $278,000 and a tax rate of 21 percent. (Ignore any tax loss or carryforward provision and assume interest expense is fully deductible.) During the year, Belyk Paving Co. had sales of $2,440,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,340,000, $645,000, and $453,000, respectively. In addition, the company had an interest expense of $278,000 and a tax rate of 21 percent. (Ignore any tax loss or carryforward provision and assume interest expense is fully deductible.)