assume the tax rate for all c-corporations is 21%

Question 2 2.5 pts Pugh Corporation qualities as a personal holding company (PHC) for 20X1. Its 20X1 regular taxable income is $800,000, which includes a $50,000 long-term capital gain. Pugh does not pay any dividends for 20X1. What amount is multiplied by 20% to determine its PHC tax? (Hints: 21% of $800,000 is $168,000, and 21% of $50,000 is $10,500) $592,500 $632,000 $571,500 $760,500 Question 2 2.5 pts Pugh Corporation qualities as a personal holding company (PHC) for 20X1. Its 20X1 regular taxable income is $800,000, which includes a $50,000 long-term capital gain. Pugh does not pay any dividends for 20X1. What amount is multiplied by 20% to determine its PHC tax? (Hints: 21% of $800,000 is $168,000, and 21% of $50,000 is $10,500) $592,500 $632,000 $571,500 $760,500