Income tax liability before any tax credits

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Reference no: EM13825092

In 2013, Apricot Corporation had taxable income of $120,000. Included in taxable income was a $10,000 capital gain. The $120,000 of taxable income does not include a $15,000 capital loss carry forward available from the previous year. What is Apricot Corporation’s 2013 income tax liability before any tax credits?

a. $24,200

b. $26,150

c. $28,550

d. $30,050

e. None of the above

Reference no: EM13825092

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