Question: Exercise 19-20 (Algorithmic) (LO. 7) Robin, an executive, receives a golden parachute payment of $768,600 from his employer. His average annual compensation for the five

Exercise 19-20 (Algorithmic) (LO. 7)

Robin, an executive, receives a golden parachute payment of $768,600 from his employer. His average annual compensation for the five most recent tax years is $192,150.

a. For what amount will the corporation be denied a deduction?

b. What is Robin's excise tax for the payment?

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