Calculate the federal income tax for the year

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Reference no: EM131556541

Seminole Lighting, a specialty lamps and specialty light sources manufacturer, had the following information on its annual tax returns. Determine Seminole's taxable income and calculate the federal income tax for the year.

Sales $650,000

Interest Revenues $8500

Operating Expense $53,000

Depreciation $6500

Reference no: EM131556541

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