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Corporation X, Y and Z file a consolidated federal income tax return. Based on the following facts, calculate consolidated taxable income. Be sure to show

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Corporation X, Y and Z file a consolidated federal income tax return. Based on the following facts, calculate consolidated taxable income. Be sure to show work to obtain partial credit. x Y Z 15,000 20,000 10,000 2,000 Sales to unrelated parties X's sales to Y Y's sales to Z Capital gain Capital loss 3,000 5,000 (3,000) (4,000) 6,000 12,000 Expenses paid to unrelated parties Y's purchase from X Z's purchase from Y 9,000 2,000 3,000

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