SlideShare a Scribd company logo
The Board of Directors of Teton Pearl, Inc,, a private foundation, consists of Charlyne, Beth, and
Carlos. They vote unanimously to provide a $988 , 000 grant to Carlos. The grant is to be used
for travel and education and does not qualify as a permitted grant to individuals (1.e., it is an act
of self-dealing). If an amount is zero, enter "0". a. The initial tax imposed on Teton Pearl is $ and
on Carios is s b. The initial tax imposed on the foundation managers (the Board of Directors) is $
c. Select from the choices below which one properly expresses the computation in part (b) as a
Microsoft Excel formula.

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