(Answered) Question - in 2011 the excess net passive income of

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Question - In 2011, the excess net passive income of Cut-N-Shooters, Inc., an S corporation in Cut-N-Shoot, Texas, is $32000. Cut-N-Shooters holds $50000 of accumulated earnings and profits from a C corporation year, and it reports AMT adjustments of $17000 this year. Calculate any passive investment income penalty tax.

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