Question 1 - Tax Suppose Congress is expected to increase the corporate tax rate from 21% to 35% next year. Holliday Corp. is scheduled to pay its CEO a salary of $1 million in the current period. The CEO's tax rate is 37%. The CEO is also entitled to a bonus that is up to the discretion of the compensation committee. Part A Strategy 1(a): Do nothing. True/False. Taxes are not a primary determinant in compensation decisions. As such, it is ideal that the compensation committee ignores the potential for changing tax rates. [Select] Part B Strategy 1(b): Defer a large part of the salary ($300,000) from the current period to the next period. True/False. Assuming (1) this occurs in the post-TCJA period and (2) Holliday plans on paying the CEO a $1 million salary plus bonus in year 2 (i.e., the next year), deferring salary from the current period to the next period will not increase tax savings resulting from the deductibility of the CEO's compensation. (Select] Part C Strategy 1(c): Defer the bonus from the current period to the next period. True/False. Assuming (1) this occurs in the post-TCJA period and (2) Holliday plans on paying the CEO a $1 million salary plus a bonus in year 2 (i.e., the next year), deferring the bonus from the current period to the next period will not increase tax savings resulting from the deductibility of the CEO's compensation. [Select ]