Myers Corp was formed as a C Corporation on January 1, Year 1, and it elected S corporation status on January 1, Year 3. At the time of the election, Myers has accumulated C corporation earnings and profits, which have not been distributed. Myers has had the same 25 shareholders throughout its existence. In Year 6, Myers's corporation election will terminate if it: Adds a decedent's estate as a shareholder to the existing shareholders. Has passive investment income exceeding 90% of gross receipts in each of the three consecutive years ending Decemeber 31, Year 5. Increases the number of shareholders to 100. Takes a charitable contribution deduction