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The Dakota Corporation had a 2021 taxable income of $27,500,000 from operations after all operating costs but before (1) interest charges of $8,000,000, (2)
The Dakota Corporation had a 2021 taxable income of $27,500,000 from operations after all operating costs but before (1) interest charges of $8,000,000, (2) dividends received of $700,000, (3) dividends paid of $5,000,000, and (4) income taxes (the firm's tax rate is 21 percent). a. Calculate Dakota's income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability
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