QUESTION 14 Last fiscal year 01-Jan to 31-Dec, Norco, Inc., a fabricator of metal products, had a gross revenue of $51,650,000, cost of goods sold of $34,785,000, interest expense of $5,867,000 and total depreciation charges of $2,683,000. Also on October 1 of last year, Norco completed purchase of and placed in service a new automated production line with an installed initial cost of $1,500,000. Compute Norco's taxable income for last year. Attach File Browse Local Files Browse Content Collection