The following statements about the corporate income tax computation are all false, except:

a. Corporations are subject to a flat 25 percent tax on net capital gains, including net Code Sec. 1231 gains.

b. The corporate tax rate on a long-term capital gain is 21percent.

c. A corporation is subject to a 39 percent tax on all taxable income in excess of $100,000,000.

d. Corporations are not entitled to any tax credits.