Corporations face the following tax schedule: Taxable income Tax on Base of Bracket Percentage on Excess above Base Up to $50,000 $0 15% $50,000-$75,000 7,500 $75,000-$100,000 13,750 $100,000-$335,000 22,250 $335,000-$10,000,000 113,900 34 $10,000,000-$15,000,000 3,400,000 $15,000,000-$18,333,333 5,150,000 38 Over $18,333,333 6,416,667 35 Company Z has $90,000 of taxable income from its operations, $5,000 of interest income, and $30,000 of dividend income from preferred stock it holds in other corporations. What is Company Z's tax liability? Assume a 70% dividend exclusion for tax on dividends. 25 34 39 35 $22,143 $23,096 $23,810 $29,763 $18,572