1. Sandersen, Inc., sells minicomputers. The firm's taxable income is $1,225,000. Calculate the corporation's tax liability.

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.

2. "Originally, the sole objective of the federal government in taxing income was to generate financing for government expenditures. Although this purpose continues to be important, social and economic objectives have been added." Substantiate the statement with enough explanations.