A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm bought a piece of land for $10,000. Depreciation expences were $11,575. The taxable income in last year was:

A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm bought a piece of land for $10,000. Depreciation expences were $11,575. The taxable income in last year was: O A. $12,555 O B. $2,255 O C. $1,125 OD. $33,265 O E. $11,125