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A business generates profit of $100,000. The owner has a 37% marginal tax rate. What...

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Accounting

A business generates profit of $100,000. The owner has a 37% marginal tax rate. What amount of corporate and individual income tax will be paid on this profit if the business is a regular corporation and no income is distributed?

a. Corporate tax, $21,000; individual tax, $37,000

b. Corporate tax, $21,000; individual tax, $0

c. Corporate tax, $0; individual tax, $37,000

d. Corporate tax, $21,000; individual tax, $15,800

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