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P 4-4 The following items are from Taperline Corporation on December 31, 2012. Assume a flat 40% corporate tax rate on all items, including the

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P 4-4 The following items are from Taperline Corporation on December 31, 2012. Assume a flat 40% corporate tax rate on all items, including the casualty loss. Sales Rental income $670,000 3,600

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