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Exercise 1 7 - 2 1 ( Algorithmic ) ( LO . 1 ) Hummingbird Corporation, a closely held C corporation that is not a
Exercise AlgorithmicLO
Hummingbird Corporation, a closely held C corporation that is not a PSC has $ of net active income, $ of portfolio income,
and a $ loss from a passive activity.
Compute Hummingbird's taxable income for the year.
$
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