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Pearl crafts inc. has 25 shareholders. brian pearl howard owns 28% of the corporation's stock. Each other shareholder owns 3% of the corporation's stock. Among

Pearl crafts inc. has 25 shareholders. brian pearl howard owns 28% of the corporation's stock. Each other shareholder owns 3% of the corporation's stock. Among the shareholders are pearls's spouse, two children and brother. the corporation's ordinary gross income for the year was $800,000. Its PHC income was $500,000. It is not an exempt corporation. Is it a personal holding company?

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