Problem:
Hunt Taxidermy, Inc. is concerned about the taxes paid by the company in 2008. In addition to $25.5 million of taxable income, the firm received $1,750,000 of interest on state-issued bonds and $900,000 of dividends on common stock it owns in Hunt Taxidermy, Inc.
Required:
Question: Calculate Hunt Taxidermy's taxable income.
Note: Please provide reasons to support your answer.