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Net Income per books Federal Income Taxes Life Insurance proceeds on key employee Tax Exempt interest Net Capital Loss Premium on life insurance 100,000 22,250

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Net Income per books Federal Income Taxes Life Insurance proceeds on key employee Tax Exempt interest Net Capital Loss Premium on life insurance 100,000 22,250 60,000 13,000 2,500 5,000 Calculate Taxable Income N W P V . X

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