The tax rate is 35%

Last year, Coventry Corporation had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $24 million. In addition, Coventry received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. Coventry has $25 million in 9% bonds outstanding. The firm also had $3 million in depreciation expense, and sold land for $3.5 million that had been purchased for $4 million several years earlier. What is the firm's tax payment? O $3,315,900 0 $3,324,300 0 $3,2 10,900 O $3,252.900 O $3,147,900 D Question 2 1 pts Last year, Hampton Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Hampton also paid operating expenses of $225,000, and $26,500 in interest expense. Also, the firm received $40,000 in dividend income and experienced a $10,000 capital gain on the sale of property. Compute the corporation's tax payment. O $70.350 $68,250 O $69,615 O $74,550 O $64,050