The Tax Liability of a Corporation with Ordinary Income of $1,100,000

Multiple Choice

The tax liability of a corporation with ordinary income of $1,100,000 is ________. Range of taxable income Marginal rate
$ 0 to $ 50,000 15%
50,000 to 75,000 25
75,000 to 100,000 34
100,000 to 335,000 39
335,000 to 10,000,000 34
10,000,000 to 15,000,000 35

A) $362,250
B) $340,000
C) $374,000
D) $390,000