2) In 2020, Babbitt Incorporated, a manufacturer and retailer of home building equipment, reported the following activity during the year: Gross Profit $44,013,984 Dividends from 30% owned corporation 221,000 Operating Expenses 24,059,620 Charitable Contributions 9,047,462 Capital Gains 13,054,552 Capital Losses 10,047,330 In addition, Babbitt has a net operating loss carryover from 2017 amounting to $17,426,082. A: Calculate Babbitt's taxable income and tax liability. B: Calculate Babbitt's applicable carryovers to 2021