Vanquish, Incorporated, a C Corporation, had the following items of income and expense during 2021.

Gross profit from sales $220,000
Interest income on bank account $3,650
Interest income on State of Missouri Bonds $4,000	[
Long term capital loss on sale of stock $5,000
Wages expense $90,000
Charitable contributions $17,000
Other deductible expenses $57,000
Depreciation BOOK $10,000
Depreciation TAX (MACRS) $15,000
Federal income tax credit $2,500
What is Vanquish, Incorporated's tax rate?

Solve as we have in class (on your own paper, WORD doc, Excel, etc.) and attach a file showing your work.

a) Compute Taxable Income and Tax Due (or Refund) for the Corporation.

b) What specific items and amounts from 2021 does the Corporation have to CarryForward? Why?