LO.7 Gray Corporation (a calendar year corporation) reports the following information for the years listed below: 2011

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LO.7 Gray Corporation (a calendar year corporation) reports the following information for the years listed below:

2011 2012 2013 Unadjusted AMTI $3,000 $2,000 $5,000 Adjusted current earnings 4,000 3,000 2,000 Compute the ACE adjustment for each year.

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