Tom pays 15% in dividends and capital gains taxes and 35% in ordinary income taxes. Three years ago, Tom purchased a 2% interest in a publicly -traded partnership. This year, the partnership had net income of $25 million and paid 20% in “qualifying dividends”. Tom’s taxes on this investment are
A: $ 15,000
B: $ 35,000
C: $ 75,000
D: $155,000
E: $175,000