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Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold

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Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $4 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million several years earlier. What is the firm's tax liability? $5.214.300 $5,189 100 Answer $5,205.900 $5,460,000 nswered $4,995.900 What is the tax liability for a corporation with $10,200,000 in taxable income? $2.448,000 $3,570,000 $2,040,000 Correct Answer $2.142,000 You Answered $3,468,000 Question 9 0/1 pts What is the tax liability for a corporation with $13.600.000 in taxable income? You Answered $2.720,000 $4,624,000 Correct Answer $2,856,000 $3.264,000

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