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What excess net passive income tax does Josie pay

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Question - Josie, Inc was operated as a C Corporation for the past 6 years. It has C Corporation earnings and profits of $300,000. During 2017 Josie Corp has $ 1,000,000 of sales revenues, $300,000 of cost of goods sold, and $100,000 of other expenses. In addition, Josie, Inc receives $ 400,000 of interest income. What excess net passive income tax does Josie, Inc pay in 2017?

A. $140,000

B. $0

C. $35,000

D. $17,500

Reference no: EM132435929

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