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Jasper Inc. had the following taxable income and deduction for the tax year 20X1: Sales of inventory $1533200 Gain from sales of invested stock 76900
Jasper Inc. had the following taxable income and deduction for the tax year 20X1: Sales of inventory $1533200 Gain from sales of invested stock 76900 Deductible cost of goods sold (948700) Deductible expenses (533300) Taxable income ? Jasper Inc.'s federal income tax rate is flat 21%. What is Jasper Inc.'s federal income tax liability for the tax year 20X1? Assume that the gain from sales of invested stock was a long-term capital gain. Question 35Answer a. $338121 b. $10752 c. $321972 d. $26901
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