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The Talley Corporation had taxable operating income of $490,000 (i.e., earnings from operating revenues minus...

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Accounting

The Talley Corporation had taxable operating income of $490,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $70,000, (2) dividends received of $25,000, and (3) dividends paid of $40,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt.

What is the after-tax income? Round your answers to the nearest dollar.

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