A stationery company plans to launch a new type of indelible ink pen. Advertising for the new product will be heavy and will cost the company $11million, although the company expects general revenues of $280 million next year from sources other than sales of the new pen. If the company has a corporate tax-rate of 20% on its pretax income, what effect will the advertising for the new pen have on its taxes?

A.Increase taxes by $11 million

B.Increase taxes by $2.20 million

C.Reduce taxes by $2.20 million

D.It will have no effect on taxes.