Helpers, Inc., a qualifying 501(c)(3) organization, incurs lobbying expenditures of $299,250 for the taxable year and grass roots expenditures of $0. Exempt purpose expenditures for the taxable year are $1,995,000. Helpers elects to make limited lobbying expenditures.

Exercise 25-10 (Algorithmic) (LO. 3) Helpers, Inc., a qualifying 501 (c)(3) organization, incurs lobbying expenditures of $299,250 for the taxable year and grass roots expenditures of $0. Exempt purpose expenditures for the taxable year are $1,995,000. Helpers elects to make limited lobbying expenditures. Click here to access Exhibit 25.3. If required, round your answers to the nearest dollar. a. What amount of lobbying expenditures is Helpers allowed to make tax-free under the terms of the election? s x b. What is its tax liability as a result of the election? $ x c. Select your answer to part (b) as a Microsoft Excel formula. Use the variable names "LOBBYTAX" for the final tax, "LOBBYEXPEND" for the organization's lobbying expenditures, and "LOBBYNONTAX" for the organization's nontaxable lobbying expenditures