What amount of federal income tax the corporation will owe, Accounting Basics

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What amount of federal income tax the corporation will owe

Question: John and his brother, Brent, are the only stockholders of JB Corporation (C Corp). They do not have any other employees. Their gross income for the year is $75,000, and their total expenses were $37,500. What is the amount of federal income tax the corporation will owe on this amount of income? Question Select one: a. $12,750 b. $14,625 c. $11,250 d. $ 7,875

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Accounting Basics: What amount of federal income tax the corporation will owe

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