The Carolina Corporation had a 2019 taxable income of $3,000,000 from operations after all operating...
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The Carolina Corporation had a 2019 taxable income of $3,000,000 from operations after all operating costs but before (1) interest charges of $1,000,000, (3) dividends paid of $1,000,000, and (4) income taxes. If the company's flat tax rate is 25%, what is Carolina's income tax liability?
| A. | $500,000 | |
| B. | $625,000 | |
| C. | $375,000 | |
| D. | $750,000 |
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