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

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The Answer of 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

Seminole Lighting, a Specialty Lamps and Specialty Light Sources Manufacturer