Hi, its me again. I have a few tax questions I need help with. I have attached the document.

Tax Problems- Chapter 16 1. LNS corporation reports book income of $2,210,000. Included in the $2,210,000 is $30,500 of tax-exempt interest income. LNS reports $1,372,500 in ordinary and necessary business expenses. What is LNS corporation's taxable income for the year? 2. On August 1 of year 1, Riverside Corp. (RC), a calendar-year taxpayer, acquired the assets of another business in a taxable acquisition. When the purchase price was allocated to the assets purchased, RC determined it had purchased $1,584,000 of goodwill for both book and tax purposes. At the end of year 1, RC determined that the goodwill had not been impaired during the year. In year 2, however, RC concluded that $675,000 of the goodwill had been impaired, and they required RC to write down the goodwill by $675,000 for book purposes. a) What book-tax difference associated with its goodwill should RC report in year 1? b) Is it favorable or unfavorable? c) Is it permanent or temporary? d) What book-tax difference associated with its goodwill should RC report in year 2? e) Is it favorable or unfavorable? f) Is it permanent or temporary? 3. MWC Corp. is currently in the sixth year of its existence (2015). In 2010-2014, it reported the following income (losses) before net operating loss carryovers or carrybacks: 2010: $ (88,500) 2011: (12,500) 2012: 62,750 2013: 142,000 2014: (16,000) 2015: 460,000 a. Assuming that MWC elects to not carry back NOLs. what was MWC's 2013 taxable income? b. If MWC does not elect to forgo any NOL carrybacks, what is its 2015 taxable income after the NOL c. d. e. f. deduction? MWC always elects to forgo NOL carrybacks, What is its 2015 taxable income after the NOL deduction? What is its 2015 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary? 4. Assume that in year 1 Hill Corporation reported a net operating loss of $13,800 that it carried forward to year 2. In year 1, Hill also reported a net capital loss of $7,650 that it carried forward to year 2. In year 2, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $65,500. The current year loss includes a $21,700 net capital gain. What is Hill's year 2 net operating loss? 5. In year 1 (the current year), LAA Inc. made a charitable donation of $118,500 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $632,000, which included a $118,500 charitable contribution deduction (before limitation), a $71,750 dividends received deduction, a $21,200 domestic production activities deduction, and a $16,100 net operating loss carryover from year 0. a) What is LAA Inc.'s charitable contribution deduction for year 1? 6. Riverbend Inc. received a $402,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,950,000 before deducting the dividends received deduction (DRD), a $64,500 NOL carryover, a $34,750 domestic production activities deduction, and a $187,000 charitable contribution. (Use Corporate Tax Rate Table.) a) What is Riverbend's deductible DRD assuming it owns 12 percent of Hobble Corporation? b) Assuming the facts in part (a), what is Riverbend's marginal tax rate on the dividend? c) What is Riverbend's DRD assuming it owns 37 percent of Hobble Corporation? d) Assuming the facts in part (c), what is Riverbend's marginal tax rate on the dividend? e) What is Riverbend's DRD assuming it owns 86 percent of Hobble Corporation (and is part of the same affiliated group)? f) Assuming the facts in part (e), what is Riverbend's marginal tax rate on the dividend? 7. For the current year, CCP Inc. received the following interest income: $21,750 interest from Irvine City bonds: Bonds issued in 2012 and proceeds used to fund public schools. $26,250 interest from Fluor Corporation bonds. $16,800 interest from Mission Viejo City: Bonds issued in 2013 and proceeds used to lure new business to the area. $8,900 interest from U.S. Treasury notes. a) What amount of this interest income is taxable to CCP? b) What amount of interest should CCP report as a preference item when calculating its alternative minimum tax liability