Kee holding Corp. has eighty unrelated equal stockholders. For the year ended December 31, 2014, Kee's income comprised the following: Net rental income : $1,000 Commissions earned on sales of franchises: $3,000 dividends from taxable domestic corporations: $90,000 Deductible expense from 2014 totaled $10,000. Kee paid no dividends for the past three years. Kee's liability for personal holding company tax for 2014 will be based on undistributed personal holding company income of

Kee holding Corp. has eighty unrelated equal stockholders. For the year ended December 31, 2014, Kee's income comprised the following: Net rental income : $1,000 Commissions earned on sales of franchises: $3,000 dividends from taxable domestic corporations: $90,000 Deductible expense from 2014 totaled $10,000. Kee paid no dividends for the past three years. Kee's liability for personal holding company tax for 2014 will be based on undistributed personal holding company income of

Kee holding Corp. has eighty unrelated equal stockholders. For the year ended December 31, 2014, Kee's income comprised the following:
Net rental income : $1,000
Commissions earned on sales of franchises: $3,000
dividends from taxable domestic corporations: $90,000
Deductible expense from 2014 totaled $10,000. Kee paid no dividends for the past three years. Kee's liability for personal holding company tax for 2014 will be based on undistributed personal holding company income of






a. $12,000
b. $11,000
c. $9,000
d. $0






Answer: D