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Foreman and Son Inc has a modified taxable income of $35,500 before charitable deductions. Its charitable contributions for the year were $12,400. What is Foreman

Foreman and Son Inc has a modified taxable income of $35,500 before charitable deductions. Its charitable contributions for the year were $12,400. What is Foreman and Son's current-year charitable contribution deduction and contribution carryover? What is the book-tax difference? Is it favorable or unfavorable?

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