TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for...
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Accounting
TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $505,000 (of which $252,500 is passive investment income). Expenditures directly connected to the production of the passive investment income total $101,000. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar
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