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A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. The company purchased a warehouse and
A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. The company purchased a warehouse and converted it into a manufacturing plant for $5,000,000. It completed installation of assembly equipment worth $1, 200,000 on December 31st. The plant began operation on January 1st. The company had a gross income of S9, 200,000 for the calendar year. Manufacturing costs and all operating expenses, excluding the capital expenditures, were $2, 340,000. The depreciation expenses for capital expenditures amounted to $466,000. Click the icon to view the corporate tax schedule for 2015. (a) Compute the taxable income of this company. The taxable income of this company is $. (Round to the nearest dollar.)
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