Chuck Corporation reports the following results for this year:
Service (nonpassive) income $17,500
Dividend income 18,500
Interest income 14,000
Passive income-related expenses 5,000
Other expenses 12,500
At the end of this year, Chuck's E&P for its C corporation tax years amount to $30,000. Compute Chuck Corporation's excess net passive income.

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The Answer of Chuck Corporation reports the following results for this year:
Service (nonpassive) income $17,500
Dividend income 18,500
Interest income 14,000
Passive income-related expenses 5,000
Other expenses 12,500
At the end of this year, Chuck's E&P for its C corporation tax years amount to $30,000. Compute Chuck Corporation's excess net passive income.

Chuck Corporation Reports the Following Results for This Year