Question: Identify whether the corporations described below are controlled foreign corporations. a . Shetland PLC , a U . K . corporation, has two classes of

Identify whether the corporations described below are controlled foreign corporations.
a. Shetland PLC, a U.K. corporation, has two classes of stock outstanding, 75 shares of class AA stock and 25 shares of class A stock. Each class of stock has equal voting power and value. Angus owns 35 shares of class AA stock and 20 shares of class A stock. Angus is a U.S. citizen who resides in England.

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