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000 Life Insurance proceeds on key employee Tax fumpt interest Net Capital Calculate Taxable income Problem 5 Exclusive of capital transactions, X corporation had $150,000

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000 Life Insurance proceeds on key employee Tax fumpt interest Net Capital Calculate Taxable income Problem 5 Exclusive of capital transactions, X corporation had $150,000 taxable income. Its capital gains and losses are follwos Short term capital gain 10,000 Short term capital loss -15,000 Long term capital gain 30,000 Long term capital loss -40.000 Calculate Taxable income

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