Your Corporation Has the Following Cash Flows

Multiple Choice

Your corporation has the following cash flows:
Operating income:$250,000
Interest received:10,000
Interest paid:45,000
Dividends received:20,000
Dividends paid:50,000
If 70 percent of dividends received are excludable,and if the applicable tax table is as follows,
What is the corporation's tax liability?

A) $57,530
B) $65,350
C) $69,440
D) $88,350
E) $100,280