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22..Tropics Corporation, a retail company C corporation, has the following income and expense items for the year: Gross receipts from sales: $60,000 Dividends received from
22..Tropics Corporation, a retail company C corporation, has the following income and expense items for the year:
Gross receipts from sales: $60,000 Dividends received from 15%-owned domestic corporation: 43,077 Expenses connected with sales: 30,000
The taxable income of Tropic Corporation is:
Group of answer choices
a)$100,000
b)$70,000
c)$47,000
d)$42,000
e)Error in key everyone gets credit
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