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Problem 12-21 (Algorithmic) (LO. 10) TyroneCo, an s corporation with a positive E & P balance, reports gross receipts for the year totaling $425,000 (of

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Problem 12-21 (Algorithmic) (LO. 10) TyroneCo, an s corporation with a positive E & P balance, reports gross receipts for the year totaling $425,000 (of which $212,500 is passive investment income). Expenditures directly connected to the production of the passive investment income total $85,000. Compute Tyrone's passive investment income tax. If required, round your final answer to the nearest dollar

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