A C corporation with earnings and profits elects S corporation status in 20XI and has the following in 20X1: 1. Gross receipts 2. Passive investment income $100,000 $60,000 $10,000 Expenses directly related to the passive 3. investment income Taxable income if the corporation had been a C corp. 4. $ 30,000 What is the net passive income? A. $5,000 B. $10,000 C. $30,000 D. $50,000 Exht & Resume La i) 00% Complete