The Dakota Corporation had a 2015 taxable income of $17,000,000 from operations after all operating costs but before (1) interest charges of $3,500,000, (2) dividends received of $290,000, (3) dividends paid of $2,050,000, and (4) income taxes.
a. Use the tax schedule in Table 2.3 to calculate Dakota’s income tax liability. (Round your answer to the nearest dollar amount.)