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ABF co. had $500,000 operating income and $340,000 operating expenses during the year. ABF, which owns 25% of Yellow, Inc.s stock, received a $50,000 dividend
ABF co. had $500,000 operating income and $340,000 operating expenses during the year. ABF, which owns 25% of Yellow, Inc.s stock, received a $50,000 dividend from Yellow. ABF also had a $40,000 long-term capital gain and a $20,000 short-term capital loss. Compute ABF's taxable income for the year.
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