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What the corporation excess passive investment income

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Question - A corporation that elected S status in 20X2 has C corporation earnings and profits of $50,000 from its C corporation years. During 20X5 the corporation's gross receipts are $120,000, which includes $75,000 of interest income. Expenses related to the interest income are $10,000. What the corporation's excess passive investment income?

a. $45,000

b. $35,000

c. $39,000

d. $20,000

Reference no: EM132946439

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