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Olinto, Inc., has taxable income (before special deductions and the net operating loss deduction) of $92,000. Included in that amount is $12,000 of interest and
Olinto, Inc., has taxable income (before special deductions and the net operating loss deduction) of $92,000. Included in that amount is $12,000 of interest and dividend income. Forty percent of Olinto's property, payroll, and sales are in its home state. What amount of this taxable income will be taxed by Olinto, Inc.'s home state?
a. $12,000
b. $36,800
c. $44,000
d. $90,000
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