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Determine taxable income in each of the following Instances. Assume that the corporation is a C corporation and that book Income is before any Income

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Determine taxable income in each of the following Instances. Assume that the corporation is a C corporation and that book Income is before any Income tax expense. Required: a. Book Income of $56,000 Including capital gains of $3,500, a charitable contribution of $1,900, and meals expenses of $6,000. b. Book Income of $98,000 Including capital losses of $4,500, a charitable contribution of $15,000, and meals expenses of $1,500. c. Book Income of $79,000 including municipal bond Interest of $1,250, a charitable contribution of $4,500, and dividends of $2,000 from a 10% owned domestic corporation. The corporation also has an $6,500 charitable contribution carryover. d. Book Income of $135,000 Including municipal bond Interest of $1,450, a charitable contribution of $3,750, and dividends of $6,000 from a 70% owned domestic corporation. The corporation has a capital loss carryover of $4,750 and a capital gain of $1,500 in the current year. a. Taxable income Amount $ 59,000 $ 107,400 $ 73,450 b. . Taxable income c. Taxable income d. Taxable income S 127.250

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