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Exercise 22-16 (Algorithmic) (LO, 10) TyroneCo, an S corporation with a positive E & P balance, reports gross recelpts for the year totaling $437,000 (of

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Exercise 22-16 (Algorithmic) (LO, 10) TyroneCo, an S corporation with a positive E \& P balance, reports gross recelpts for the year totaling $437,000 (of which $218,500is passive investment income). Expenditures directly connected to the production of the passive investment income total $87,400. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar. Exercise 22-16 (Algorithmic) (LO, 10) TyroneCo, an S corporation with a positive E \& P balance, reports gross recelpts for the year totaling $437,000 (of which $218,500is passive investment income). Expenditures directly connected to the production of the passive investment income total $87,400. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar

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