The Board of Directors of Teton Pearl, Inc., a private foundation, consists of Charlyne, Beth, and Carlos. They vote unanimously to provide a $931,000 grant to Carlos. The grant is to be used for travel and education and does not qualify as a permitted grant to individuals (i.e., it is an act of self-dealing).

Problem 25-22 (Algorithmic) (L0. 5) The Board of Directors of Teton Pearl, Inc., a private foundation, consists of Charlyne, Beth, and Carlos. They vote unanimously to provide a $931,000 grant to Carlos. The grant is to be used for travel and education and does not qualify as a permitted grant to individuals (i.e., it is an act of self-dealing). If an amount is zero, enter " 0 ". a. The initial tax imposed on Teton Pearl is \$ and on Carlos is \$ Feedback Check My Work In general, a private foundation is exempt from Federal income tax. However, because a private foundation is usually not a broac supported organization, it may be subject to several Federal excise taxes. b. The initial tax imposed on the foundation managers (the Board of Directors) is $ x