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Riverside Corporation had sales of $5 million this past year. The firm's cost of goods sold was $1.5 million. Operating expenses included the following: salaries
Riverside Corporation had sales of $5 million this past year. The firm's cost of goods sold was $1.5 million. Operating expenses included the following: salaries and administrative expenses of $1 million, depreciation of $250,000, labor costs of $2.75 million, and maintenance costs of $750,000. Compute the firm's tax liability.
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