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6. In its first year of operations corporation Lauzer has the following results for the year: Gross income from operations $700,000 operating deductible expenses (200,000)

6. In its first year of operations corporation Lauzer has the following results for the year:

Gross income from operations $700,000

operating deductible expenses (200,000)

short term capital gains 5,000

short term capital losses (14,000)

long term capital gains 8,000

long term capital losses 3,000

What is the corporation's taxable income for the year? [answerA]

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