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In the current year, the Best Corporation had sales revenue of $380,000, operating expenses of $390,000, and charitable contributions totaling $9,000. In addition, the company
In the current year, the Best Corporation had sales revenue of $380,000, operating expenses of $390,000, and charitable contributions totaling $9,000. In addition, the company received a $50,000 cash dividend from another domestic corporation, a company in which it held a 15 percent ownership interest. What is Best Corporations taxable income?
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