Last year, Hampton Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Hampton also paid operating expenses of $225,000, and $26,500 in interest expense. Also, the firm received $40,000 in dividend income and experienced a $10,000 capital gain on the sale of property. Compute the corporation's tax payment.
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Last year, Hampton Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 7...
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