1. CCI earns $150,000 for 2018 after expensing the $40,000 salary it paid Clare. CCI does not elect to be taxed under Sub-S, so it is taxed under Sub-C. Clare decides to leave all the money in the business. In other words, unlike the example from above, CCI does not distribute its profits to Clare. Assume that Clare's income tax filing status is single and her itemized deductions total $5,000 for the. Assume that she had no other income, deductions, tax credits, etc. for 2018. How much does CCI have to pay in federal income tax on the $150,000? What about Clare