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5 . 2) Loon, Inc. reported taxable income of $650,000 in 202X and paid federal income taxes of $207,000. Not included in the company's computation

5 . 2) Loon, Inc. reported taxable income of $650,000 in 202X and paid federal income taxes of $207,000. Not included in the company's computation of taxable income is tax-exempt interest of $35,000...

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