Blue Corporation elects S status effective for tax year 2011.As of January 1,2011,Blue's assets were appraised as follows.
In each of the following situations,calculate any built-in gains tax,assuming that the highest corporate tax rate is 35%.C corporation taxable income would have been $100,000.

Question

Blue Corporation elects S status effective for tax year 2011.As of January 1,2011,Blue's assets were appraised as follows.
  In each of the following situations,calculate any built-in gains tax,assuming that the highest corporate tax rate is 35%.C corporation taxable income would have been $100,000.

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The Answer of Blue Corporation elects S status effective for tax year 2011.As of January 1,2011,Blue's assets were appraised as follows.
  In each of the following situations,calculate any built-in gains tax,assuming that the highest corporate tax rate is 35%.C corporation taxable income would have been $100,000.

Blue Corporation Elects S Status Effective for Tax Year 2011