During the current year, Jay Corporation, a calendar year personal service C corporation, had operating income of income of $300,000, operating expenses of $200,000, a short-term capital gain of $5,000, and a long-term capital loss of $35,000. How much is Jays income tax liability for the year? a. None of the above. b. $22,250. c. $35,000. d. $14,700. e. $21,000.