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(a) Monroe Corporation has the following income and expenses for 2023: Operating income Dividend income Operating expenses Charitable contribution 62,000 28,000 (22,000) (10,000) How much
(a) Monroe Corporation has the following income and expenses for 2023: Operating income Dividend income Operating expenses Charitable contribution 62,000 28,000 (22,000) (10,000) How much of the charitable contribution can Monroe take this year?(b) Suppose instead, that Monroe Corporation has the following income and expenses for 2023: Operating income Operating expenses Charitable contribution Carryover charitable contribution from 2019 92,000 (30,000) (3,000) (9,000) How much of Monroe's charitable contribution deduction for 2023 comes from: The 2019 contribution: _________________________? The 2023 contribution: _________________________
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