Rohan, Inc., a calendar year closely held corporation, in not a PHC. If the company reports the following items, the accumulated taxable income is:
Taxable income $200,000
Long-term capital gain (net of tax) 18,300
Federal income tax on LTCG 11,700
Dividends received deduction 18,000
Accumulated earnings credit 90,000
Federal income taxes 65,150
a. $44,550
b. $62,850
c. $80,850
d. $109,700
e. None of the above