Janelles taxable income (before QBI deduction) is $120,000. This amount includes $5,000 of qualified dividend income and $3,000 of interest income from a corporate bond. What is Janelles modified taxable income?

a. $120,000.

b. $128,000.

c. $115,000.

d. $112,000.

e. None of the above.

Rachel, who is single, is an employee of a local accounting firm. This year Rachel earned a salary of $100,000. This was her only taxable income for the year. Her total taxable income for the year is $70,000. Rachel's deduction for qualified business income is

		a. Zero.
		b. $20,000.
		c. $14,000.
		d. None of the above.