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Exercise 8-26 (LO. 8) Parent and Child corporations have filed on a consolidated basis since the mid-1970s. The group reports the following amounts for the
Exercise 8-26 (LO. 8)
Parent and Child corporations have filed on a consolidated basis since the mid-1970s. The group reports the following amounts for the current tax year.
Operating loss, including the following42,500,000
Charitable contributions: 600,000
Net capital gain: 1,100,000
Dividends received deduction: 450,000
What is the Parent group's net operating loss for the year that is available for carryforward?
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