Royal Honey Corporation is a calendar-year corporation that began business on January 1, 2021. For 2021, it reported the following information in its audited income statement.

Royal Honey Corporation		Book to Tax
Income statement	Book	Adjustments		Taxable
For current year	Income	(Dr.)	Cr.	Income
Revenue from sales	$44,000,000
Cost of Goods Sold	(27,000,000)
Gross profit	$17,000,000
Other income:
Income from investments (dividends from <10% owned corporations)	210,000
Interest income	20,0001
Capital gains (losses)	(4,000)
Gain or loss from disposition of fixed assets	3,0002
Miscellaneous income	40,000
Gross Income	$17,269,000
Expenses:
Compensation	(7,500,000)3
Stock option compensation	(200,000)4
Advertising	(1,350,000)
Repairs and Maintenance	(75,000)
Rent	(22,000)
Bad Debt expense	(41,000)5
Depreciation	(1,400,000)6
Warranty expenses	(70,000)7
Charitable donations	(500,000)8
Meals	(18,000)
Goodwill impairment	(30,000)9
Organizational expenditures	(44,000) 10
Other expenses	(140,000)11
Total expenses before taxes	($11,390,000)
Provision for income taxes (income tax expense for financial accounting purposes)	(1,780,000)12

Notes:

Of the $20,000 interest income, $5,000 was from a City of Seattle bond (issued in 2013) that was used to fund public activities, $7,000 was from a qualified Tacoma City bond (issued in 2013) used to fund private activities, $6,000 was from a fully taxable corporate bond, and the remaining $2,000 was from a money market account.

This gain is from equipment that the corporation purchased in February and sold in December (that is, it does not qualify as 1231 gain). Assume depreciation for regular tax purposes was $2,000 more than it was for book purposes.

This includes total officer compensation of $2,500,000 (no one officer received more than $1,000,000 compensation). The corporation has 10 shareholders.

This amount is the portion of incentive stock option compensation that vested during the year (recipients are officers).

The corporation actually wrote off $27,000 of its accounts receivable as uncollectible.

Regular tax depreciation was $1,900,000.

In the current year, the corporation did not make any actual payments on warranties it provided to customers.

The corporation made $500,000 of cash contributions to qualified charities during the year.

On July 1 of this year the corporation acquired the assets of another business. In the process it acquired $300,000 of goodwill. At the end of the year, the corporation wrote off $30,000 of the goodwill as impaired.

The corporation expensed all of its organizational expenditures for book purposes. The corporation will expense the maximum amount of organizational expenditures allowed for tax purposes.

The other expenses do not contain any items with book-tax differences.

This is an estimated tax provision (federal tax expense) for the year. Assume that the corporation is not subject to state income taxes. Assume they made timely, estimated total payments of $1,600,000 ($400k x 4)