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Grover Corporation, an accrual basis C Corporation, reported the following items of income and expense for 2020: Gross Profit $1,300,000 U.S. Treasury Bill Interest 18,500

Grover Corporation, an accrual basis C Corporation, reported the following items of income and expense for 2020: Gross Profit $1,300,000

U.S. Treasury Bill Interest 18,500

Dividends Received (from 33% owned Domestic Corp.) 410,000

Long-Term Capital Gain 17,000

Long-Term Capital Loss 22,000

Salary Expense 740,000

Net Increase to Allowance for Bad Debts for the year 20,000

Bad Debt-Write-Offs 88,000

MACRS Depreciation Expense 72,000

Straight-Line Depreciation (for Book purposes) 44,000

Charitable Contributions to Salvation Army 150,000

Key Man Life-Insurance Premiums 45,000

Other Deductible Expenses 220,000


Required: 

a) How much is Grover’s taxable income?

b) How much is Grover’s before-tax book income?

c) How much is Grover's tax liability for 2020 (ignoring estimated payments)?

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