A corporation has the following cash flows: Dividens Paid: $60,000 Dividends received $30,000 Interest Paid $35,000 Interest Received $15,000 Operating Income $300,000 (a) What is the corporation's tax liability? Problem 2 A certain firm's taxable income for the years 2006 through 2010 and its tax payments for the years 2006 through 2009 were as follows: 2006 Taxable income $2,000 Tax payment $400 2007 Taxable income $6,250 Tax payment $1,250 2008 Taxable income $12,500 Tax payment $2,500 2009 Taxable income $6,250 Tax payment $1,250 2010 Taxable income ($21,250) (a) What is the firm's tax liability for the year 2010? (b) What are the firm's adjusted tax liabilities for the years 2006 through 2010? (c) What total tax refund will the firm receive after the adjustment?