Griffey Communications recently realized $102,500 in operating income.The company had interest income of $25,000 and realized $70,000 in dividend income.The company's interest expense was $40,000.Using the corporate tax schedule below,what is Griffey's tax liability? Assume a 70% dividend exclusion for tax on dividends.

Question

Griffey Communications recently realized $102,500 in operating income.The company had interest income of $25,000 and realized $70,000 in dividend income.The company's interest expense was $40,000.Using the corporate tax schedule below,what is Griffey's tax liability?  ​ Assume a 70% dividend exclusion for tax on dividends.

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The Answer of Griffey Communications recently realized $102,500 in operating income.The company had interest income of $25,000 and realized $70,000 in dividend income.The company's interest expense was $40,000.Using the corporate tax schedule below,what is Griffey's tax liability?  ​ Assume a 70% dividend exclusion for tax on dividends.

Griffey Communications Recently Realized $102,500 in Operating Income