Mr. Umar operates a photography studio as a sole proprietorship. His average income from the business is $100,000. Because Mr. Umar does not need the entire cash flow for personal consumption, he is considering incorporating (joining) the business. He will work as a corporate employee for $40,000 annual salary, and the corporation will accumulate its after-tax income to fund future business expansion. Assume that Mr. Umar's marginal income tax rate is 32 percent. Calculate Mr. Umar's total taxes; corporate and individual tax burden (liability)