During 2012, Sparrow Corporation, a Calendar Year C Corporation, Had

Multiple Choice

During 2012, Sparrow Corporation, a calendar year C corporation, had operating income of $425,000, operating expenses of $280,000, a short-term capital loss of $10,000, and a long-term capital gain of $25,000.How much is Sparrow's tax liability for 2012?

A) $42,650.
B) $42,800.
C) $45,650.
D) $62,400.
E) None of the above.