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Zhang Corp. has the following capital gain and loss information for the current tax year. A long-term capital gain of $25000 A short-term capital gain

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Zhang Corp. has the following capital gain and loss information for the current tax year. A long-term capital gain of $25000 A short-term capital gain of $8000 A short-term capital loss of $7000 A short-term capital loss of $25000 carried over from last year How much will Zhang report capital gain or loss on its current tax return (Form 1120)? A. 0. B. $3000 capital loss. C. $1000 capital gain. D. $3000 capital gain

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