Horningway Corpotation is considering eppanding its cperafions to boost its income, but before making a finat decrion, if has astive you to calculate the corporale tax consequences of such a decision. Cumently, Horningway genecates before-tar yearly income of 5708,000 and has no dett outsianding. Expanding oporations would allow Heringway fo ncrease belore tax yairy income fo interest tixporse of $96,000 Create a spreadsheet to conduct a tax arabysis (assume a 21% fat tax rabo) for Heningway Corporation and detornine the. following a. What is Herningway's currert annual corporate tax labiley? b. If Hemingway finances its exparision using cash reserves, what will be its new corporate tax labbly? c. Il Hemingwily finances its exparsion using detel, whef wit be is new corporate tax intilfy? a. Hemingway's current anrual cooporale tax listeify is 1 (Round to the nearest dollar) b. If Hemingwiry finances is expansion using cash reserves, its new corporate tax labaly wit be 5 (Round to itw nendest doliar