Question - The following question has to do with federal taxation:
Jasmine Corporation has ordinary income from operations of $60,000, net long-term capital gain of $20,000, and net short-term capital loss of $25,000. What is the taxable income for 2008?
a. $55,000.
b. $57,000.
c. $60,000.
d. $80,000.
e. None of the above.