Question 45 of 75. Melodious Music is a piano store organized as a C corporation. This year, the corporation had net taxable income of $50,000. It distributed $50,000 to its shareholders. What is the corporation's total income tax reported on Form 1120? $5,000 $7,300 $10,500 $22,400 Mark for follow up

Question 45 of 75 . Melodious Music is a piano store organized as a C corporation. This year, the corporation had net taxable income of $50,000. It distributed $50,000 to its shareholders. What is the corporation's total income tax reported on Form 1120 ? $5,000 $7.300 $10,500 $22,400 Mark for follow up