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Calculate the corporate tax liability in each of the following circumstances: a. X Corporation has taxable income of $250,000 for its 2016 calendar tax year.

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Calculate the corporate tax liability in each of the following circumstances: a. X Corporation has taxable income of $250,000 for its 2016 calendar tax year. b. Y Corporation has $1,500,000 in taxable income for 2016. c. Z Corporation has ordinary income of $100,000, a short-term capital loss of $30,000, and a long-term capital gain of $10,000 in 2016

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