A Subchapter S or S Corporation is: a. a special class of close corporation under the MBCA. b. an IRS tax treatment option for corporations owned by a limited number of shareholders. c. a not-for-profit corporation. d. none of the above

b.

A subchapter S or S corporation is an IRS tax treatment option for corporations owned by a limited number of shareholders.

Explanation:

In the U.S federal income tax, An S corporation, is an intimately held corporation and at times they could be in form of a limited liability company LLC or a partnership.

S-corporations are pass-through entities; this means that, the federal income tax do not subject the corporation to tax, rather the shareholders are taxed upon their allocated share of the income.

They make a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code

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(b) management: leadership

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20