Alpha Investments reported taxable income of $1,800,000. An audit revealed that the company did not deduct $250,000
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Question:
Alpha Investments reported taxable income of $1,800,000. An audit revealed that the company did not deduct $250,000 in tax-deductible investment costs and incorrectly deducted $100,000 in non-deductible fines.
Requirement: Recalculate the taxable income and determine the correct tax liability at a corporate tax rate of 29%. Discuss the adjustments.###question_divider###
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