Exercise 15-10 (LO. 3) Helpers, Inc., a qualifying $ 501(c)(3) organization, incurs lobbying expenditures of $250,000 for the taxable year and grass roots expenditures of $0. Exempt purpose expenditures for the taxable year are $1,200,000. Helpers elects to make lobbying expenditures on a limited basis. Click here to access Exhibit 15.2. a. What amount of lobbying expenditures is Helpers allowed to make tax-free under the terms of the election? 292,500 x b. What is its tax liability as a result of the election? 250,000 x c. Select your answer to part (b) as a Microsoft Excel formula. LOBBYTAX=MAX(0.25*(LOBBYEXPEND-LOBBYNONTAX)))