Miller Microbrewery recently had $21,500 in sales, $14,800 of operating costs other than depreciation, and $2,100 of depreciation. The company had $14,000 of bonds outstanding with a 8% interest rate, and its federal-plus-state income tax rate was 40%.

1.How much was the firm's taxable income?

2. What was net income?

Intro Miller Microbrewery recently had $21,500 in sales, $14,800 of operating costs other than depreciation, and $2,100 of depreciation. The company had $14,000 of bonds outstanding with a 8% interest rate, and its federal-plus-state income tax rate was 40%. Part 1 | Attempt 1/6 for 10 pts. How much was the firm's taxable income (or earnings before taxes (EBT))? 0+ decimals Submit | Attempt 1/6 for 10 pts. Part 2 What was net income? 0+ decimals Submit