According to the provisions of the Tax Cut and Jobs Act (TCJA), which was signed into law in 2017, the federal tax rate on U.S. corporate is a 21% flat rate. It does not go up as taxable income increases. Assuming that a corporation has $20 million of taxable income from operations in 2018, calculate its federal tax liability in 2018.

Question 9 options:

	$2.1 million
	$4.2 million
	$6 million
	$5.2 million