MURCUS INC , A CALENDAR YEAR C CORPORATION , OWNS A SINGLE ASSET WITH A BASIS OF $ 325,000.00 AND A FM OF $ 800,000.00. MARCUS INC HOLDS A POSITIVE E AND P BALANCE. THE ENTITY ELECTS S CORPRATION STATUS FOR 2022 AND THEN SELLS THE ASSET.

COMPUTE THE CORPORATE LEVEL BUILT IN GAINS TAX THAT MUST BE PAID BY MARCUS INC IF IT SOLD IT FOR $ 1,000,000 NOTE THAT YEAR 2022 IS TWO YEARS AFTER MAKING THE VALID S CORPORATION ELECTION.