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Exercise 12-16 (Algorithmic) (LO. 10) TyroneCo, an s corporation with a positive E & P balance, reports gross receipts for the year totaling $477,000 (of

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Exercise 12-16 (Algorithmic) (LO. 10) TyroneCo, an s corporation with a positive E & P balance, reports gross receipts for the year totaling $477,000 (of which $238,500 is passive investment income). Expenditures directly connected to the production of the passive investment income total $95,400. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar. $

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