Dunng a recent IRS audit, the revenue agent decided that the Parker family used their closely held corporation Falco, to avoid shareholder tax by accumulating earnings beyond the reasonable needs of the business Falco's taxable income was S1000,000, it pald no dividends, and it had no business need to retain Income Falco's marginal tax rate in prior years was 34 percent. Assume the accumulated earnings tax rate is 20% for all applicable years in this problem Required 6. compute Falco's accumulated earnings tax assuming that it had accumulated $5 million after-tax income in prior years. Assume that for these years at issue, a corporation is exempt up to $250,000 of accumulated earnings without demonstrating a reasonable business need for the accumulation b. Compute Falco's accumulated earnings tax assuming that it had accumulated $140.000 after-tax income in prior years. Assume that for these years at issue, a corporation is exempt up to $250,000 of accumulated earnings without demonstrating a reasonable business need for the accumulation Complete this question by entering your answers in the tabs below. Required A Required B Compute Falco's accumulated earnings tax assuming that it had accumulated $5 million after-tax income in prior years. (Enter your answer in dollars and not in millions of dollars.) Accumulated earnings ta Required B >