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income of a C corporation in 2022 for federal income tax purposes. The column on the right describes tax treatments that may apply to the
income of a C corporation in 2022 for federal income tax purposes. The column on the right describes tax treatments that may apply to the item described on the left. Fill in the number from the right column which you think is the appropriate federal tax treatment for the item described on the left. Each item in the column on the right may be used more than once. ( 1 point each) $5,000 of illegal cash bribes received by the corporation as incentive to transact business with certain vendors. The corporation's bank forgave the corporation's working capital loan of $5,000. The corporation was insolvent before and 1. Included in gross income. after the loan was forgiven. 2. Excluded from gross income. $5,000 of punitive damages received by the corporation from a competitor for tortious interference with one of its supplier contracts. $5,000 of interest income from a municipal bond
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