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HY-Text, Inc. had the following transactions during the year: Net income per books $100,000 Federal income tax paid 22,250 Excess of capital losses over capital
HY-Text, Inc. had the following transactions during the year: Net income per books $100,000 Federal income tax paid 22,250 Excess of capital losses over capital gains 5,000 Interest from municipal bonds 11.000 Expenses related to municipal bond interest 500 What is HY-Text's taxable income? $139,000 $127,750 $77,750 $116,750
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