58. Jack is a paid preparer. He understated a client's tax liability this year because the client told him he could not report more than $30,000 a year to retain his housing benefits. Jack only reported $30,000 of the $50,000 in self-employment income the client earned. Jack will face a penalty for the intentional understatement of a taxpayer's tax liability due to an unreasonable position. What is the penalty? a) $545 b) $50 per return up to $27,000 per year c) $250 per return d) The greater of $1,000 or 50% of the income derived per return