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The Talley Corporation had taxable operating income of $365,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of

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The Talley Corporation had taxable operating income of $365,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of 560,000,(2) dividends received of $20,000, and (3) dividends paid of $30,000, Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt. What is the firm's taxable income? Round your answer to the nearest dollar. 3 What is the tax expense? Round your answers to the nearest dollar. 5 What is the after-tax income? Round your answers to the nearest dollar. 5

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