Question 3 1 pts Last year, your company had sales of $16,306,519. The firm's costs of goods sold amounted to 60% of sales. The firm also paid cash operating expenses of $1,000,000, and had $175,685 in depreciation expense. The firm had $450,000 in 9% coupon bonds outstanding and paid $40,000 in dividends to its common stockholders. Also, the firm received $100,000 in dividend income from its holdings of other common stocks. Compute the corporation's taxable income i.e. earnings before taxes. SET YOUR CALCULATOR TO 4 DECIMAL PLACES THEN ROUND TO THE NEAREST WHOLE NUMBER AT THE END. DO NOT ENTER THE $ SIGN SYMBOL.i.e. if your answer is 1,000,000 enter it as 1,000,000