Question 9 6 Points Assume that Greggs Corporation had sales during the past year of $5,000,000; Its cost of goods sold was $3,000,000; and it incurred operating expenses of $950,000. In addition it received $185,000 in interest income. In turn it paid $40,000 in interest. Calculate the corporation's tax liability by using the corporate tax rate structure below: Corporate Tax Rates 15% $0-$50,000 25% $50,001$75,000 34% $75,001-$10,000,000 35% over $10,000,000 Additional surtax: 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333