Corporations Face the Following Tax Schedule Company Z Has $80,000 of Taxable Income from Its Operations

Corporations face the following tax schedule: $\begin{array} { l r r l r } &\text { Tax on Base } &\text { Percentage on } \\\underline{\text { Taxable Income }}&\underline{\text { of Bracket }}&\underline{\text { Excess above Base} }\\\text { Up to } \$ 50,000 & \$ 0 & 15 \% \\\$ 50,000 - \$ 75,000 & 7,500 & 25 \\\$ 75,000 - \$ 100,000 & 13,750 & 34 \\\$ 100,000 - \$ 335,000 & 22,250 & 39 \\\$ 335,000 - \$ 10,000,000 & 113,900 & 34 \\\$ 10,000,000 - \$ 15,000,000 & 3,400,000 & 35 \\\$ 15,000,000 - \$ 18,333,333 & 5,150,000 & 38 \\\text { Over } \$ 18,333,333 & 6,416,667 & 35\end{array}$
Company Z has $80,000 of taxable income from its operations, $5,000 of interest income, and $30,000 of dividend income from preferred stock it holds in other corporations. What is Company Z's tax liability?

A) $17,328
B) $18,240
C) $19,200
D) $20,210
E) $21,221