Dozen Corporation is owned equally by twelve unrelated individuals. Its taxable income this year is $100,000 and its regular federal income tax liability is $21,000. The company claims a $20,000 dividends- received deduction and pays $25,000 dividends to its shareholders. The corporation had accumulated earnings and profits of $900,000 at the end of the preceding year. The company has no reasonable needs of the business. The accumulated earnings tax is

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The Answer of Dozen Corporation is owned equally by twelve unrelated individuals. Its taxable income this year is $100,000 and its regular federal income tax liability is $21,000. The company claims a $20,000 dividends- received deduction and pays $25,000 dividends to its shareholders. The corporation had accumulated earnings and profits of $900,000 at the end of the preceding year. The company has no reasonable needs of the business. The accumulated earnings tax is

Dozen Corporation Is Owned Equally by Twelve Unrelated Individuals