An S Corporation in Polly Beach,South Carolina,reports a Recognized Built-In

An S corporation in Polly Beach,South Carolina,reports a recognized built-in gain of $95,000 and taxable income of $80,000.It holds a $7,000 NOL carryforward and a $9,000 business credit carryforward from a C corporation year.There are no earnings and profits from C corporation years.The built-in gains tax liability is:

A) $0.
B) $16,550.
C) $25,550.
D) $28,000.
E) None of the above.