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42. Archie Bald is the sole shareholder of a personal holding company. To avoid paying any personal holding company tax, Archie wishes to treat $20,000

42. Archie Bald is the sole shareholder of a personal holding company. To avoid paying any personal holding company tax, Archie wishes to treat $20,000 as a consent dividend. (a.) By what time must Archie elect to make a consent dividend? (b.) What are the tax consequences to both parties?

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