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57. QUALIFIED BUSINESS INCOME DEDUCTION - 9 POINTS Still Waters Corporation is an S corporation owned equally by Serena and three other shareholders. The corporation
57. QUALIFIED BUSINESS INCOME DEDUCTION - 9 POINTS Still Waters Corporation is an S corporation owned equally by Serena and three other shareholders. The corporation reported $900,000 of business receipts, $500,000 of business deductions and $40,000 of dividend income. REQUIRED: Based on the above information, calculate Serena's deduction for qualified business income deduction
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