14. Turquoise Co. and Yellow Co. are equal partners in LMN Co. LMN Co, had a net income for tax purposes this year of $350,000 which did not include the available capital cost allowance of $50,000. Prior to the partnership income, each corporate partner had a loss of $150,000, and each has a $25,Qu non capital loss which will expire in two years. To maximize the use of the losses, the partnership net income for tax purposes is: a. $50,000 b. $175,000 c. $300,000 15, Which of the following statements regarding debt and equity financing is false? a. Interest payments on debt financing are usually fully deductible by the corporation for tax purposes. b. Interest income from debt financing is taxable in the hands of the investor, c. Dividend payments on equity financing are deductible by the corporation for tax purposes d. Dividends are paid from after-tax corporate income