Nifty Enterprises Pty Ltd Is an Australian Resident Private Company

Nifty Enterprises Pty Ltd is an Australian resident private company. It has an annual turnover of $9 million, and has registered for the R&D tax concession with the Department of Industry, Innovation and Science. During the 2019-20 income year, it incurred expenditure of$120?000eligible R&D activities. What amount of the R&D tax offset is the company able to claim?

A) $46,200
B) $120,000
C) $10,800
D) $52,200