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Post Corporation, an S Corporation with prior year Subchapter C earnings and profits, has for its current taxable year total gross receipts of $500,000, including
Post Corporation, an S Corporation with prior year Subchapter C earnings and profits, has for its current taxable year total gross receipts of $500,000, including passive investment income of $300,000, $220,000 of which is interest income. Post also has expenses directly connected with the production of this interest income in the amount of $50,000.
What is Posts tax on excess net passive income?
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