33. Griffey Communications recently realized $95,000 in operating income. The company had interest income of $35,000 and realized $70,000 in dividend income. The companys interest expense was $45,000. Its corporate tax rate is 25%. Griffey is a small company, so it is not subject to the interest expense deduction limitation. Assume a 50% dividend exclusion for taxes on dividends?

a. $30,000 b. $38,750 c. $21,250 d. $41,250 e. $50,000