Smallville, Inc., a 501(c)(3) exempt organization, hires a registered lobbyist to promote its position on pending legislation. For the year, its lobbying expenses are $265,000. Smallville makes the s 501(h) election. The lobbying nontaxable amount is $180,000. a. Will the lobbying expenses result in Smallville losing its exempt status? Explain your answer. b. Calculate the amount of any tax that Smallville must pay associated with the lobbying expenses