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Homework Saved Bollermaker incorporated reported taxable income of $615,000 this year and paid federal income taxes of $129,150, Not Included in the company's computation
Homework Saved Bollermaker incorporated reported taxable income of $615,000 this year and paid federal income taxes of $129,150, Not Included in the company's computation of taxable income is tax-exempt income of $41,750, disallowed meals and entertainment expenses of $48,500, and disallowed expenses related to the tax-exempt income of $1,800. Bollermaker deducted depreciation of $126.000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $83,500. Compute the company's current E&P. (Negative amount should be indicated with a minus sign.) Current E&P
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