Determining sparrow tax liability

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Reference no: EM13140694

During 2010, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating expenses of $370,000, a short-term capital loss of $25,000, and a long-term capital gain of $80,000. How much is Sparrow's tax liability for 2008?

a. $46,100.

b. $59,300.

c. $69,050.

d. $76,050.

e. None of the above.

Reference no: EM13140694

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