Multiple Choice
During 2011, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating expenses of $370,000, a short-term capital loss of $25,000, and a long-term capital gain of $80,000. How much is Sparrow's tax liability for 2011?
A) $46,100.
B) $59,300.
C) $69,050.
D) $76,050.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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