During the Current Year,Sparrow Corporation,a Calendar Year C Corporation,had Operating

Multiple Choice

During the current year,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 income tax liability for the year?

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