For the year ended June 30,2017,the Rosaceae Corporation,a regular C corporation,has a long-term capital loss of $25,000.
a.Assuming that in addition to the capital loss,the corporation has taxable income,before capital gains and losses,of $25,000 for 2017,calculate the corporation's tax liability before any credits.
b.Assuming that in addition to the long-term capital loss of $25,000 the corporation has taxable income,before capital gains and losses,of $90,000 and a short-term capital gain of $10,000 for 2017,calculate the corporation's tax liability before any credits.

Question

For the year ended June 30,2017,the Rosaceae Corporation,a regular C corporation,has a long-term capital loss of $25,000.
a.​Assuming that in addition to the capital loss,the corporation has taxable income,before capital gains and losses,of $25,000 for 2017,calculate the corporation's tax liability before any credits.
b.​Assuming that in addition to the long-term capital loss of $25,000 the corporation has taxable income,before capital gains and losses,of $90,000 and a short-term capital gain of $10,000 for 2017,calculate the corporation's tax liability before any credits.

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For the Year Ended June 30,2017,the Rosaceae Corporation,a Regular C