23) NextDoor CORP, had the following in 2023:
sales of $3,800,000,
Cost of Goods Sold of $900,000,
administrative expenses of $350,000
depreciation expense of $70,000,
interest expense of $50,000.
What is the net income for the firm in 2023 using the following tax schedule?
Taxable Income
$
1-50,000
$ 50,001-100,000
$ 100,001-1,000,000
$1,000,001-2,000,000
$2,000,000 +
Tax Rate
5%
10%
20%
35%
40%