Calculate any penalty tax payable by lejeune


Lejeune, Inc., an S corporation in Boone, north carokina, reports operating revenue of $400,000, taxable interest of $380,000, operating expenses of $250,000, and deductions attributable to the interest income of $140,000. Lejeunne's accumulated E&P amounts ot $2 million. Calculate any penalty tax payable by Lejeune or its shareholders.

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Accounting Basics: Calculate any penalty tax payable by lejeune
Reference No:- TGS084898

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