Y Corp, a foreign corporation, has an exclusive agent in the US performing sales activity on its behalf. The agent receives a commission for every sale he makes and cannot work for anyone else. Y Corp rents an office for the agent in the US and displays goods in the office. The exclusive agent has the authority to conclude contracts on behalf of the foreign corporation.

Which of the following statement(s) are correct?

	a.	The agent will likely be viewed as a dependent agent (employee)
	b.	Y Corp likely has a US trade or business
	c.	Y Corp will pay US tax on ECI generated from the US trade or business
	d.	All of the above
	e.	Both B and C