Hmmm, my guess, since it's a 4550.

It's running at 48mhz.
And you're trying to use a baud rate of 2400 or less.

Without using BRG16 of the EUSART, 2400 baud is too slow.

For the SPBRG/SPBRGH values, you can use mister_e's Pic multi-calc.

http://mister-e.org/pages/utilitiespag.html

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