Elevate, Inc., a qualifying IRC 501(c)(3) organization, incurs lobbying expenditures of $230,000 during the taxable year. Exempt purpose expenditures for the year are $900,000. If Elevate makes the election under IRC 501(h) to make lobbying expenditures on a limited basis, its tax liability resulting from the lobbying expenditures is:

a. $14,500.

b. $12,500.

c. $20,000.

d. $17,500.

e. $11,500.