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Black & White, Inc. has $20,000 in taxable income, plus a long-term capital gain of $30,000 and short-term capital loss of $20,000. Its tax liability
Black & White, Inc. has $20,000 in taxable income, plus a long-term capital gain of $30,000 and short-term capital loss of $20,000. Its tax liability is: Show your work.
a. $6,300
b. $10,200
c. $4,500
d. $7,500
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