Kari Corp., a manufacturing company, was organized on January 2, 2014. Its 2014 federal taxable income was $400,000 and its federal income tax was $100,000. What is the maximum amount of accumulated taxable income that may be subject to the accumulated earnings tax for 2014 if Kari takes only the minimum accumulated earnings credit?
a. $300,000
b. $150,000
c. $50,000
d. $0
Answer: C
Tax
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