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Problem 13-30 (Static) [LO 13-7] Yasmin Corporation, a calendar year domestic corporation, owns 100 percent of Luna Inc., a calendar year controlled foreign corporation. Luna
Problem 13-30 (Static) [LO 13-7] Yasmin Corporation, a calendar year domestic corporation, owns 100 percent of Luna Inc., a calendar year controlled foreign corporation. Luna has never paid a dividend and at the end of 2017 has accumulated $18 million undistributed income (none of which is subpart Fincome). Luna also has $2 million of cash at the end of 2017. Required: a. Compute Yasmin's tax due on its mandatory inclusion amount related to ownership of Luna. b. Beginning in 2017, determine Yasmin's installment payments of the tax due on its mandatory inclusion amount. Complete this question by entering your answers in the tabs below. Required a Required B Compute Yasmin's tax due on its mandatory inclusion amount related to ownership of Luna. (Consider intermediate value dollars and not in millions. Enter your final answer also in dollars and not in millions of dollars.) Yasmin's tax due on its mandatory inclusion Required A Required B > Yasmin Corporation, a calendar year domestic corporation, owns 100 percent of Luna Inc., a calendar year controlled foreign corporation. Luna has never paid a dividend and at the end of 2017 has accumulated $18 million undistributed income (none of which is subpart F income). Luna also has $2 million of cash at the end of 2017. Required: a. Compute Yasmin's tax due on its mandatory inclusion amount related to ownership of Luna. b. Beginning in 2017, determine Yasmin's installment payments of the tax due on its mandatory inclusion amount. Complete this question by entering your answers in the tabs below. Required A Required B Beginning in 2017, determine Yasmin's installment payments of the tax due on its mandatory inclusion amount. (Cons intermediate values in dollars and not in millions. Enter your final answers also in dollars and not in millions of dollars. Amount Installment payments due 2017 2018 2019 2020 2021 2022 2023 2024 Total amount paid
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