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31. Corona Corporation has the following income and expense items for the year: Gross receipts from sales $75,000 Dividends received from 30%-owned domestic corporation 50,000

31. Corona Corporation has the following income and expense items for the year: Gross receipts from sales $75,000 Dividends received from 30%-owned domestic corporation 50,000 Expenses connected with sales 40,000 The taxable income of Ghandi Corporation is A) $100,000. B) $85,000. C) $52,500. D) $35,000.

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