The SGS Co. had $311,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Calculate the companys income taxes.

Tax Rate TABLE 2.3 Corporate tax rates Taxable income 50,000 50,001 75,000 75,001 100,000 100,001 335,000 335,001- 10,000,000 10,000,001 15,000,000 15,000,001 18,333,333 18,333,334+ 15% 25 34 39 34 35 38 35