A company wants to set up a new office in a country where the corporate income tax rate is: 15% for first $25,000 of taxable income, 25% on next $50,000, 34% on next $25,000, and 39% on everything over $100,000. Executives estimate that they will have gross revenues of $500,000, total cost of $300,000, $30,000 in allowable tax deductions, and a one-time business start-up tax credit of $8,000. How much should it expect to pay in taxes for the first year? (Hint: Taxable income = gross revenues - total cost - allowable tax deductions) O $44,050 O $52,050 0 $41,550 O $49,550