Not counting capital transactions, Acme Corp. has $50,000 of taxable income. Its capital gains and losses are: Short-term gain $10,000 Long-term gain 30,000 Short-term loss (10,000) Long-term loss (40,000) Acme's taxable income for the year is: $90,000 None of the other answers is correct. $40,000 $50.000 MacBook Pro Q $ % A # 3 & 4 5 7 00 * E R T Y U I Jane is starting a new business. Her biggest concern is paying tax. Which entity type should she avoid? O C Corporation O Partnership S Corporation O Limited Liability Company Tom contributes equipment to Falcon Corporation in return for 51% of its stock and $10,000 cash. Tom's basis in the equipment is $10,000 and its fair market value is $60,000. No other shares of stock were issued at the time of this transaction; however, Falcon corporation has operated for the previous five years with stock shares outstanding. How much gain does Tom recognize on the equipment contribution? $0 $50,000 $40,000 $10,000 F- ,2:19 MacBook Pro Q YJE M . I ind command Question 2 4.55 pts Acme Corporation borrows $100,000 to buy 10% of Beta Corporation's stock in January, 2021. In July, Beta Corporation pays Acme a $100 dividend. How much dividends received deduction is Acme entitled to? $0 $100 $50 $65