the william b waugh corporation is a regional toyata dealer. the firm sells new and used trucks and is actively involved in the parts business. during the most recent year, the company generated sales of $3.03 million. the combined cost of goods sold and the operating expenses were $2.09 million. also, $389,000 in interest expense was paid during the year. calculate the corporation's tax liability by using the corporate tax rate structure

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 (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) The corporation's tax liability is S (Round to the neares 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 (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) The corporation's tax liability is S (Round to the neares