XYZ is a subchapter C Corporation for federal income tax purposes. It has gross income of $22,650,000 salary expense of $3,150,000 and supply expenses of $500,000. XYZ also receives a schedule K-1 for the year showing allowable research and development credits of $300,000. XYZ has an available net operating loss carryover of $500,000. XYZs net federal income tax os