Kee Holding Corp. has eighty unrelated equal stockholders. For the year ended December 31, 2007, Kee’s income comprised the following:
|
Net rental income |
$ 1,000 |
|
Commissions earned on sales of franchises |
3,000 |
|
Dividends from taxable domestic corporations |
90,000 |
Deductible expenses for 2007 totaled $10,000. Kee paid no dividends for the past three years. Kee’s liability for personal holding company tax for 2007 will be based on
- $12,000
- $11,000
- $ 9,000
- $0