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According to the following 2017 data for Floyd Company, a closely held corporation, what its taxable income? Net passive loss: $5,000 Net active income: $3,000
According to the following 2017 data for Floyd Company, a closely held corporation, what its taxable income?
Net passive loss: $5,000
Net active income: $3,000
Net portfolio income: $4,000
a) $2,000
b) $3,000
c) $4,000
d) $7,000
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