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In 2013, Apricot Corporation had taxable income of $120,000. Included in taxable income was a $10,000 capital gain. The $120,000 of taxable income does not
In 2013, Apricot Corporation had taxable income of $120,000. Included in taxable income was a $10,000 capital gain. The $120,000 of taxable income does not include a $15,000 capital loss carryforward available from the previous year. What is Apricot Corporations 2013 income tax liability before any tax credits?
| a. | $24,200 |
| b. | $26,150 |
| c. | $28,550 |
| d. | $30,050 |
| e. | None of the above |
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