Trust X invests solely in stocks and bonds. During the year it received:

Interest from corporate bonds= $6,000

Interest from tax-exempt municipal bonds= $2,000

Taxable dividends= $2,000

Trust X also paid its trustee $1,000 for earning all of the above investment income. What is trust X's taxable income before the exemption?

a) 7,000

b) 7,200

C) 9,000

D) 9,800

Please show steps of the problem.!!