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Legos, Inc. has book income after federal income tax expenses of $300,000. Legos is an accrual-basis taxpayer for both book reporting and tax reporting. Compute
Legos, Inc. has book income after federal income tax expenses of $300,000. Legos is an accrual-basis taxpayer for both book reporting and tax reporting. Compute Legos' taxable income given the information below: Federal income tax expense $23,000 Net capital loss $24,000 Book depreciation $32,000 Tax depreciation $42,000
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