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Abbot Corporation reported a net operating loss of $600.000 in 20x3, which the corporation elected to carry forward to 20x4. Included in the computation of
Abbot Corporation reported a net operating loss of $600.000 in 20x3, which the corporation elected to carry forward to 20x4. Included in the computation of the taxable loss was regular depreciation of $300,000 (E&P depreciation is $85,000), first-year expensing under $179 of $70,000, and a dividends received deduction of $12,000. The corporation's current E&P for 20x3 would be: Multiple Choice ($373,000). ($317,000). ($600,000). ($755.000)
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