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TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $521,000 (of which $260,500 is passive investment
TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for the year totaling $521,000 (of which $260,500 is passive investment income). Expenditures directly connected to the production of the passive investment income total $104,200. Compute Tyrone's PII tax Do not round intermediate computations. If required, round your final answer to the nearest dollar. Tyrone's passive investment income tax is $
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