Question: During 2021 an s corp reports a recognized built-in gain of $110,010 and taxable income (computed in the same manner as a C corp) of

During 2021 an s corp reports a recognized built-in gain of $110,010 and taxable income (computed in the same manner as a C corp) of $98,000. At the beginning of the year, the net unrealized built-in gain is $150,000. The built-in gains tax liability is: SHOW YOUR COMPUTATION

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