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Please answer the questions in your own words. Copying and pasting from the textbook, Internet sites, or from any other written material is not appropriate.

Please answer the questions in your own words. Copying and pasting from the textbook, Internet sites, or from any other written material is not appropriate. Also, please show your calculation.

Question #5.

A, B, and C are the only shareholders of a corporation. A owns 40%, B owns 40% and C owns 20%. A and B want to make an S election for the corporation. C does not. Can A and B make the S election for the corporation without Cs consent?

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