! Required information [The following information applies to the questions displayed below.] Assume the following S corporations, gross receipts, passive investment income, and corporate E&P. Will any of these corporations have its S election terminated due to excessive passive income? If so, in what year? All became S corporations at the beginning of year 1. (Leave no answer blank. Select "NA" if no effect.) b. Hanson Corporation Year Gross Receipts 1 $ 1,433,300 2 702,580 3 851,970 4 833,630 1,003,245 Passive Investment Income $ 260,200 Corporate Earnings and Profits $ 139,909 102,200 102,200 213,200 196,600 223,200 81,650 270,590 81,650 Would the S election be terminated?