Griffey Communications recently realized $90,000 in operating income. The company had interest income of $35,000 and realized $70,000 in dividend income. The company's interest expense was $50,000. It 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. Which of the following most closely matches the tax liability of Griffey Communications? a. 527,500 b. 548,750 c. $36,250 d. $40,000 e. $18,750