1. Compute the accumulated earnings tax for Missing Pet Finders, Inc., using the following information: Accumulated earnings as of the end of last year $120,000 Taxable income 80,000 Less than 20 percent owned dividends 11,000 Net operating loss carryover 5,000 Excess of long-term capital gains over long-term capital losses, taxed at 34 percent 15,000 Taxes actually paid 24,000