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On January 1. Year 1.C. an individual , paid $30,000 for 7 percent of the stock in D Corp., an Scorporation. In November Year 1,

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On January 1. Year 1.C. an individual , paid $30,000 for 7 percent of the stock in D Corp., an Scorporation. In November Year 1, he loaned $11.000 to D Corp, in return for a promissory note. D Corp. generated a $750.000 operating loss in Year 1.0 Corp. generated $423,000 ordinary business income in Year 2. How much of C's share of this income is included in his Year 2 taxable income? Pineapple Corporation has financial accounting book income of $2.968,000. Book income reflects $910,000 federal income tax expense and $385.000 depreciation expense. Tax depreciation expense computed under MACRS is 5455,000. Pineapple received $175,000 of prepaid rent not included in book income. Based only on these items, compute Pineapple's taxable income. $3,633,000 $4.123.000 $3.773.000 53.983.000

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