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Problem 12-21 (Algorithmic) (LO. 10) Tyroneco, an S corporation with a positive E & P...

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Problem 12-21 (Algorithmic) (LO. 10) Tyroneco, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $561,000 (of which $280,500 is passive investment income). Expenditures directly connected to the production of the passive investment income total $112,200. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar. $

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