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ASSUME ALL CORPORATIONS ARE C CORPORATIONS Calculate taxable income from the given facts: Net income per books-130,000 Federal income tax expense 30,000 Charitable contribution disallowed=3,000

ASSUME ALL CORPORATIONS ARE C CORPORATIONS Calculate taxable income from the given facts: Net income per books-130,000 Federal income tax expense 30,000 Charitable contribution disallowed=3,000 net capital loss -5,000

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