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Sales for J. P. Hulett Inc. during the past year amounted to exist4.1 million. Gross profits totaled exist1.09 million, an depreciation expenses were exist496,000 and

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Sales for J. P. Hulett Inc. during the past year amounted to exist4.1 million. Gross profits totaled exist1.09 million, an depreciation expenses were exist496,000 and exist343,000, respectively. Dividend income for the year was exist10,000, which was paid by a firm owns 85 percent of the shares. Use the corporate tax rates shown in the popup window, , to Comcute the corporation's tax liability. firm's average and marginal tax rates? The firm's tax liability for the year is exist (Round to the nearest dollar.)

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