XYZ Corporation's net income subject to normal tax for taxable year 20X1 is $260,000. XYZ Corporation does not belong to a controlled group. For taxable year 20X1, the entity made estimated tax payments for a total of $50,000. In addition, the corporation was notified, through forms 480.6A, that several of its clients withheld income tax for the amount of $25,000. Determine if the corporation will have a refund or income tax payable for taxable year 20X1. a. Reimbursement of $26,900. b. Tax payable of $2,650. c. Reimbursement of $31,525. d. Tax payable of $7,150.