Mango, an individual, has a marginal tax rate on ordinary income of 37 percent. He currently earns $300,000 per year of ordinary income through a business operated as a sole proprietorship. If Mango does not require current cash from the business, calculate the potential decrease in his annual tax liability if he incorporates and operates the business through a C corporation. Assume the corporate tax rate is 21%.

Group of answer choices

$63,000

$9,000

$30,000

$48,000