TUMEWORK. Chapter 3 Homework Save Score: 0 of 1 pt 3 of 8 (2 complete) HW Score: 12.5%, 1 of 8 pts Problem 3-16 (similar to) Question Help (Computing income taxes) The William B. Waugh Corporation is a regional Toyota 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 $3.05 million. The combined cost of goods sold and the operating expenses were $2.09 million. Also, $403,000 in interest expense was paid during the year. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, The corporation's tax liability is S . (Round to the nearest dollar.) uting income taxes) The William B. Waugh Corporation is a regional Toyota dealer. The firm sells n. ucks and is actively involved in the parts business. During the most recent year, the company gene f 00i Data Table x the atel 35% Corporate Tax Rates 15% $0$50,000 25% $50,001$75,000 34% $75,001$10,000,000 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 comer of the data table above in order to copy its contents into a spreadsheet.) Print Done your answer in the answer box and then click Check