Calculate the corporation tax liability

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Reference no: EM131831467

Sales for L. B. Menielle Inc. during the past year amounted to $5.19 million. The firm provides parts and supplies for oil field service companies. Gross profits for the year were $3.05 million. Operating expenses totaled $ 1.12 million. The interest income from the securities owned was $18000 The firm's interest expense was $105 000 Calculate the corporation's tax liability by using the corporate tax rate structure.

Reference no: EM131831467

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