A corporation has the following capital gains and losses during the current year: 
The tax result to the corporation is
A) $10,000 NLTCG included in gross income and taxed at the ordinary rate; $4,000 NSTCG included in gross income and taxed at reduced rates.
B) $10,000 NLTCG is included in gross income and taxed at reduced rates; and $4,000 NSTCG included in gross income and taxed at the ordinary rate.
C) $14,000 included in gross income and taxed at reduced rates.
D) $14,000 included in gross income and taxed at the ordinary rate.
Correct Answer:
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