Reliable Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, the firm sold 30,000 shares of JRAC Company common stock for $16 a share. Reliable had purchased these shares two years ago for $11 a share. Also, Reliable received $50,000 in dividend income for the year. Calculate Reliable Corporation's tax liability. C $596,400 C $554,400 $591,150 $588,000 $585,900