Question: Elige Innovation Corp. (Elige) is a calendar year S corporation. Elige's S corporation status was involuntarily terminated on January 31 of the current year, so Elige was a C corporation for the rest of the tax year. Elige's taxable income for the month of January was $50,000, and its taxable income for February through December was $750,000. What amount of Elige's current year taxable income is allocated to Elige's S corporation short tax year based on the relative number of days allocation method?