Question: Exercise 23-15 (Algorithmic) (LO. 5) Rejoice, Inc., a private foundation, has existed for 10 years. Rejoice held undistributed income of $284,400 at the end

Exercise 23-15 (Algorithmic) (LO. 5) Rejoice, Inc., a private foundation, has existed

Exercise 23-15 (Algorithmic) (LO. 5) Rejoice, Inc., a private foundation, has existed for 10 years. Rejoice held undistributed income of $284,400 at the end of its 2017 tax year. Of this amount, $170,640 was distributed in 2018, and $113,760 was distributed during the first quarter of 2019. The IRS mailed a deficiency notice to Rejoice on August 1, 2020, relating to the entity's undistributed income. If amount is zero, enter "0". a. The initial tax on the 2017 undistributed taxable income for 2018 is $ and for 2019 is $ b. Select from the choices below which one properly expresses the 2018 tax computation as a Microsoft Excel formula. c. The additional tax for 2020 relative to the 2017 income is $

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