Problem 15-15 (LO, 1, 3) Welliness, Inci, a 5501(c)(3) organization, makes lobbying expenditures of $340,000 this year, Charitable expenditures were $600,000 for the first six months of the year and $950,000 for the last six months of the year. a. Determine the Federal income tax consequences to Weliness if it does not make the 8501(h) lobbying electian. Could Weliness forfeit its exempt status? Weliness, Inc. is assessed a penalty tax of 3 b. Determine the Federal income tax consequences to Weliness if it does make the 5 501(h) lobbying election. If Wellness makes the 501(h) lobbying election, it has a lobbying nontaxable amount of 5 ceiling of ? and is assessed a penalty tax of 5