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Dryer Corporation (Corporation not individual) had the following transactions. Revenues $50,000 Expenses 30,000 LTCG 5,000 STCL (15,000) What is Dryer Corporation's taxable income and capital

Dryer Corporation (Corporation not individual) had the following transactions.

Revenues

$50,000

Expenses

30,000

LTCG

5,000

STCL

(15,000)

What is Dryer Corporation's taxable income and capital loss (Corporation not individual).

Select one:

a. $15,000 taxable income; $15,000 short term capital loss carried back 3 years and forward 5 years

b. $17,000 taxable income; $12,000 short term capital loss carried forward indefinetely.

c. $10,000 taxable income

d. $20,000 taxable income, $10,000 STCL carried back 3 years and forward 5 years

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