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Assume a corporation has $120,000 of taxable income from operations, $5,000 of interest income, and $10,000 of dividend income. What is its tax liability? (Assuming

Assume a corporation has $120,000 of taxable income from operations, $5,000 of interest income, and $10,000 of dividend income. What is its tax liability? (Assuming 21% flat tax rate and 50% of dividends received are excluded from taxable income).

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