(10points) One hundred unrelated U.S. persons each own 1% of FORco. Which...
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Accounting
(10points) One hundred unrelated U.S. persons each own 1% of FORco.
Which
one of the following statements is true?
Explain your answer.
(a)
FORco is not a CFC.
(b)
FORco is a PFIC.
(c)
FORco is a CFC.
(d)
All of the above.
(e)
None of the above.
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