Carl Carlson, a single taxpayer, owns 100% of Delta Corporation. During 2009, Delta reports $150,000 of taxable income. Carl reports no income other than that earned from Delta, and Carl claims standard deductions.;

a. What is Delta's income tax liability assuming that Carl withdrawals none of the earnings from the C Corporation? What is Carl's income tax liability? What is the total tax liability for the corporation and its shareholder?;

b. Assume that Delta instead distributes$80,000 of its after-tax earnings to Carl as a dividend in the current year. What is the total income tax liability for the C Corporation and its shareholder?

c. How would your answer to Part a change if Carl withdrew $80,000 from the business in salary? Assume the corporation pays $6120 of Social Security taxes on the salary, which it can deduct from the $150,000 taxable income amount in Part a. Carl also pays $6210 of Social Security taxes on the salary, which he cannot deduct.;

d. How would your answers to Parts a-c change if Delta were instead an S Corporation and the Qualified business income QBI deduction applied?