Last year, Coventry Corporation had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $24 million. In addition, Coventry received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. Coventry has $25 million in 9% bonds outstanding. The firm also had $3 million in depreciation expense, and sold land for $3.5 million that had been purchased for $3 million several years earlier. What is the firm's tax payment? $3,780,000 $3,429,300 $3,357,900 $3,420,900 $3,315,900 Last year, Coventry Corporation had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $24 million. In addition, Coventry received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. Coventry has $25 million in 9% bonds outstanding. The firm also had $3 million in depreciation expense, and sold land for $3.5 million that had been purchased for $3 million several years earlier. What is the firm's tax payment? $3,780,000 $3,429,300 $3,357,900 $3,420,900 $3,315,900