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Exercise 17-22 (Algorithmic) (LO. 1) Hummingbird Corporation, a closely held C corporation that is not a PSC, has $172,500 of net active income, $69,000 of

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Exercise 17-22 (Algorithmic) (LO. 1) Hummingbird Corporation, a closely held C corporation that is not a PSC, has $172,500 of net active income, $69,000 of portfolio income, and a $189,750 loss from a passive activity. Compute Hummingbird's taxable income for the year

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