A corporation is classified as a personal holding company. Its taxable income is $300,000 and its regular federal income tax liability is $63,000. The company claims a $40,000 dividends- received deduction and pays $30,000 dividends to its shareholders. The personal holding company tax is
A) $61,400.
B) $49,400.
C) $41,400.
D) $62,000.
Correct Answer:
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