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18 Corporation has book income of $100,000. The following items are contained within this amount: $10,000 municipal bond interest income $20,000 of straight-line depreciation (when
18 Corporation has book income of $100,000. The following items are contained within this amount: $10,000 municipal bond interest income $20,000 of straight-line depreciation (when tax depreciation using accellerated depreciation equaled $50,000) $5,000 deduction for a fine $20,000 meals expense $25,000 entertainment expense Given these facts, what is taxable income? $160,000 $100,000 O $170,000 $110,000 0
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