Question $1$

Note: Please show detailed calculations and explanations. Answers without showing calculations$/$explanations$,$ will not receive credit.

a$)$ Studios Inc. reported a net capital loss of $$38,000$ in Year $5.$ It reported net capital gains of $$30,000$ in Year $4$ and $$43,000$ in Year $6.$ What is the amount and nature of the book$$tax difference in Year $6$ related to the net capital carryover?

b$)$ Orange Incorporated issued $20,500$ nonqualified stock options valued at $$41,000($in total$).$ The options vest over two years$$half in $2022($the year of issue$)$ and half in $2023.$ One thousand options are exercised in $2023$ with a bargain element on each option of $$7.$ What is the $2023$ book$$tax difference associated with the stock options?

c$)$ In $2022,$ Remsco Inc. has taxable income of $$74,000$ and a charitable contribution limit modified taxable income of $$30,200.$ Remsco donated cash of $$8,760$ to a qualified public charity. What is Remsco's current$-$year charitable contribution deduction assuming Remsco makes any elections necessary to maximize its charitable contribution deduction?