The Biden administration's new budget proposal includes provisions designed to reinforce international agreements to impose a 15% minimum corporate tax rate. Assuming that the plan would actually increase the corporate tax rate if enacted, which of the following statements would be TRUE?

a.The "incidence" of such a tax will, except in special cases, be shared by both corporations and consumers.

b.The "incidence" of such a tax will fall entirely on consumers because corporations will always pass on the entire added tax burden through higher prices.

c.The "incidence" of such a tax will fall entirely on corporations because they will never be able to pass-on any of the added tax burden through higher prices.

d. The "incidence" of such a tax will fall entirely on corporations if demand for their products is perfectly price-inelastic.