Which of the following statements is CORRECT?

a. Corporations are allowed to exclude 50% of their dividend income from corporate taxes.

b. Individuals pay taxes on only 30% of the income realized from municipal bonds.

c. Individuals are allowed to exclude 50% of their interest income from their taxes.

d. Corporations are allowed to exclude 50% of their interest income from corporate taxes.

e. Individuals are allowed to exclude 50% of their dividend income from their taxes.