2. A personal holding company's taxable income for 2016 is $250,000, computed befof \ account the charitable contributions deduction and the dividends received deduction. the $250,000 is $120,000 of dividends it received from other domestic corporations in owns 25 percent of the stock. The PHC makes contributions of $55 ,OOO to a charitable during the year. It paid $75,000 of dividends to its shareholders in 2016 and an additional $40,00q of dividends on March 8, 2017. What amount of PHC tax does it owe for 2016?