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Quantitative Problem: Andrews Corporation has income from operations of $227,000. In addition, it received interest income of $22,700 and received dividend income of $29,300 from
Quantitative Problem: Andrews Corporation has income from operations of $227,000. In addition, it received interest income of $22,700 and received dividend income of $29,300 from another corporation. Finally, it paid $12,500 of interest income to its bondholders and paid $47,500 of dividends to its common stockholders. Using the 2017 corporate tax schedule, what is the firms federal income tax? Round your intermediate and final answers to the nearest cent.
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