Mrs Ford, Who Has a 35% Marginal Tax Rate, Is

Mrs. Ford, who has a 35% marginal tax rate, is the sole shareholder and CEO of Fast Inc. She also holds a $1 million interest-bearing note issued by Fast. The corporation's current-year financial records show the following: Compute Fast's taxable income.

A) $1,145,000
B) $1,245,000
C) $1,305,000
D) $1,465,000