The Sapote Corporation is a manufacturing corporation.The corporation has accumulated earnings of $450,000 and the corporation cannot establish a reasonable business need for any of that amount.What is the amount of the accumulated earnings tax, if any, that will be imposed on the corporation?
A) $45,000
B) $40,000
C) $50,000
D) $76,000
E) None of the above
Correct Answer:
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