A corporation is classified as a personal holding company.Its taxable income is $300,000 and its regular federal income tax liability is $100,250.The company claims a $40,000 dividends-received deduction and pays $30,000 dividends to its shareholders.The personal holding company tax is
A) $41,950.
B) $29,963.
C) $31,463.
D) $65,053.
Correct Answer:
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