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A company has depreciation of $350,000 for the year. Interest is $85,000 on an outstanding loan of $1,200,000. Employee pay, outside services, repairs, utilities, transportation,
A company has depreciation of $350,000 for the year. Interest is $85,000 on an outstanding loan of $1,200,000. Employee pay, outside services, repairs, utilities, transportation, legal fees, and similar expenses are $2,250,000. Taxable income is $235,000. What is the gross income for the year?
A) $2,835,000
B) $1,720,000
C) $3,920,000
D) $2,920,000
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