Calculate the taxable income and current tax liability for ASA Ltd.:

• Accounting profit (loss)- ($13,000)
• Tax depreciation for plant - $1,250
• Allocation for annual leave - $0
• Annual leave paid during the year - $1,150
• Accounting depreciation expense for plant - $3,250
• Fines and Penalty - $ 5,200

The corporate tax is 30%.

Select one:

a. (12,150) - 0

b. (12,150) - (3,645)

c. 20,200 - 6,060

d. 15,000 - 4,500

e. (6,950) - 0