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Calculate the initial tax imposed on White Pearl

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Question - The Board of Directors of White Pearl, Inc., a private foundation, consists of Charlyne, Beth, and Carlos. They vote unanimously to provide a $817,000 grant to Carlos. The grant is to be used for travel and education and does not qualify as a permitted grant to individuals (i.e., it is an act of self-dealing).

Calculate the initial tax imposed on White Pearl.

Calculate the initial tax imposed on the foundation managers (the Board of Directors)?

Reference no: EM132432848

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