High Corporation incorporates on May 1 and begins business on May 10 of the current year. What

Question:

High incorporates on May 1 and begins business on May 10 of the current year. What alternative tax years can High elect to report its initial year’s income?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...