Logan, a 50 percent shareholder in Military Gear Inc. (MG), is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume MG has a $120,000 tax loss for the year, Logan's tax basis in his MG stock was $160,000 at the beginning of the year, and he received $85,000 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24%, how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation? Multiple Choice 20,400 14,400 $0. 6,000