CKE Corporation manufactures and packages cookies for sale to retailers. Taxable income for CKE in the current tax year is $250,000. CKE is not eligible for any tax credits, and it is subject to no alternative minimum tax and no credit recaptures. What amount is on the Total Tax line of Form 1120?
1) $87,500
2) $92,500
3) $52,500
4) $50,000