Sales for J. P. Hulett Inc. during the past year amounted to $3.7 million. The firm supplies statistical information to engineering companies. Gross profits totaled $1.18 million, and operating and depreciation expenses were $495,000 and $350,000, respectively. Dividend income for the year was $11,800. Compute the corporation's tax liability by using the corporate tax rate structure in the popup window:

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

Calculate the operating profits:

The operating profits are __ (Round to the nearest dollar.)

Calculate the taxable dividend income:

The taxable dividend income is __ (Round to the nearest dollar.)

Calculate the taxable ordinary income:

The taxable ordinary income is __ (Round to the nearest dollar.)

Calculate the total tax due:

The total tax due is __ (Round to the nearest dollar.)