An S corporation in Lawrence, Kansas, has a recognized built-in gain of $110,000 and taxable income of $98,000. The company has an $8,000 NOL carry forward from a C corporation year and a $9,000 business credit carry forward from a C corporation year. What is the built-in gains tax liability? (Points : 5)

$0

$22,500

$25,300

$30,500

None of the above