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Real Food Corporation (RFC), a subchapter C corporation domiciled in Florida, makes food products for...

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Accounting

Real Food Corporation (RFC), a subchapter C corporation domiciled in Florida, makes food products for commercial establishments. In 2023, RFC had $4,000,000 in sales revenue and $200,000 of tax-exempt interest income from an investment in City of Miami municipal bonds. RFC incurred $2,980,000 of ordinary and necessary trade or business expenses during 2023. CTC paid estimated taxes of $195,000 in 2023. What is RFC's tax due to the IRS or refund due? Question 6 options: Tax due $61,200 Refund due $33,400 Tax due $256,200 Tax due $19,200 None of the above

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