Hamlin Company had net income of $18,000. On the income statement Hamlin had shown $6,000 for business meals with clients, $4,000 in federal income taxes, $1,000 in penalties, and $6,000 in interest income from municipal bonds. What is Hamlins taxable income?

a) $23,000

b) $16,000

c) $17,000

d) $26,000