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23. Which of the following corporations is allowed to make an S corporation election? a. A U.S. corporation owned by a Brazilian corporation. b. A

23. Which of the following corporations is allowed to make an S corporation election?

a. A U.S. corporation owned by a Brazilian corporation.

b. A U.S. owned and operated corporation with 7,000 separate shareholders.

c. A U.S. corporation owned and operated by two U.S. citizens (individuals).

d. None of these choices could be an S corporation.

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