Griffey Communications recently realized $112,500 in operating income. The company had interest income of $35,000 and realized $70,000 in dividend income. The company's interest expense was $60,000. Its corporate tax rate is 25%. Griffey is a small company, so it is not subject to the interest expense deduction limitation. Assume a 50% dividend exclusion for taxes on dividends. a. $54,375 b. $39,375 c. $45,625 d. $21,875 e. $30,625