During the current year, Sparrow Corporation, a calendar year C corporation, had operating income of $425,000, operating expenses of $280,000, a short-term capital loss of $10,000, and a long-term capital gain of $25,000. How much is Sparrows tax liability for the year? a. $42,650. b. $42,800. c. $45,650. d. $62,400. e. None of the above.