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In the current year, Tree Inc. had the following items of income and expense: Sales 500,000 Cost of sales 250,000 Dividends received 25,000 The dividends
In the current year, Tree Inc. had the following items of income and expense:
Sales 500,000
Cost of sales 250,000
Dividends received 25,000
The dividends were received from a taxable domestic corporation of which Acorn owns 30%. In Acron's current year corporate income tax return, what maount should be reported as taxable income?
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