Hawkins Corporation Has $50,000 of Taxable Income Before Special Deductions

Multiple Choice

Hawkins Corporation has $50,000 of taxable income before special deductions.Taxable income includes an operating loss carryforward of $10,000 and $60,000 of dividend income received from other corporations in which Hawkins owns less than a 20% interest.What is Hawkins' taxable income?

A) $8,000
B) $15,000
C) $18,000
D) $25,000
E) $50,000