Question 1 Orange, Inc., a C Corporation for federal tax purposes, owns 82% of Citrus Corporation common stock, a C Corporation for federal tax purposes. This year, Orange generated $725,000 operating income (not including dividends). It also received $145,000 dividends from Citrus Corporation. Orange's taxable income is: $841,000 O $768,500 O $754,000 O $725,000 1 pts