Dependable Appliances, Inc., is a private, for-profit corporation that (1) was formed for the purpose of manufacturing and distributing a newly patented kitchen appliance, (2) is owned by five shareholders, (3) is subject to double taxation, and (4) has made no public offering of its shares. Dependable is:
O -an S corporation.
O -a close corporation.
O -a nonprofit corporation.
O -a professional corporation.