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An S corporation has the following shares outstanding on January 1, 20X1: Mary 400 shares Frank 500 shares Joe 800 shares On June 1, Joe

An S corporation has the following shares outstanding on January 1, 20X1:

Mary 400 shares

Frank 500 shares

Joe 800 shares

On June 1, Joe sells 300 of his shares of stock to Gary. The S corporations pass-through taxable income is $30,000. What is Garys pro rata share of the S corporations taxable income for 20X1?

A. $3,105

B. $5,294

C. $8,823

D. $14,118

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