Griffey Communications Recently Realized $102,500 in Operating Income

question 100

Multiple Choice

Griffey Communications recently realized $102,500 in operating income.The company had interest income of $25,000 and realized $70,000 in dividend income.The company's interest expense was $40,000.Using the corporate tax schedule below,what is Griffey's tax liability? ​ Assume a 70% dividend exclusion for tax on dividends.

• A) $31,445
• B) $23,520
• C) $25,565
• D) $28,122
• E) $20,452