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A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm

A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm bought a piece of land for $10,000. Depreciation expences were $11,575. The taxable income in last year was:

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