Jonathan owns 100% of Lemon Company (a calendar year entity). In the current year, Lemon recognizes a long-term capital gain of $70,000 and no other income (or loss). Jonathan is in the 37% tax bracket and has no recognized capital gains (or losses) before considering his ownership interest in Lemon Company. What is the tax on the $70,000 if Lemon is:

A. If Lemon is an LLC? (No election has been filed under the check-the-box Regulations.)

B. A C corporation?