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For 2022, Tar Heel Inc. has pretax accounting income of $2 million. Included in Tar Heels pretax accounting income are: Depreciation expense $200,000 Salary and

For 2022, Tar Heel Inc. has pretax accounting income of $2 million. Included in Tar Heels pretax accounting income are: Depreciation expense $200,000 Salary and wage expense 300,000 Maintenance expense 125,000 Goodwill impairment 50,000 Tax-exempt interest on municipal bonds 20,000 Tar Heels depreciation for tax purposes was $290,000 for 2022. Tar Heel received no dividends during the year, but paid $30,000 in dividends during the year. What is Tar Heels 2022 taxable income? _________________________________

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