Pilgrim Incorporated Reported $275,000 in Taxable Income for the Year

Pilgrim Incorporated reported $275,000 in taxable income for the year ended December 31, 2010. Corporate tax rates for 2010 were:

What is Pilgrim's total tax liability for 2010?

A) $ 68,750
B) $ 90,500
C) $ 93,500
D) $102,250
E) $107,250