Power Corporation reports the following results:
Service income (not passive income) $40,000
Dividend income 30,000
Interest income 60,000
Passive income-related expenses 20,000
Other expenses 50,000
At the end of the year, Power's Subchapter C E&P is $50,000. What is Power Corporation's excess net passive income and its excess net passive income tax for the year?

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The Answer of Power Corporation reports the following results:
Service income (not passive income) $40,000
Dividend income 30,000
Interest income 60,000
Passive income-related expenses 20,000
Other expenses 50,000
At the end of the year, Power's Subchapter C E&P is $50,000. What is Power Corporation's excess net passive income and its excess net passive income tax for the year?

Power Corporation Reports the Following Results