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In 2021 a single individual operates a business as a sole proprietorship. The business has...

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Accounting

In 2021 a single individual operates a business as a sole proprietorship. The business has revenue of $280,000 and expenses of $112,000. The individual also has $4,000 in capital loss. The individual has itemized deductions of $9,500. The corporate tax rate is 21%. What is this individual's income tax liability for 2021?

a. $30,369

b. $30,609

c. $31,201

d. $31,341

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