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Red Corporation has taxable income before DRD of $174,000. Included in that amount is a dividend of $20,000 from a large publicly-traded domestic corporation. Red
Red Corporation has taxable income before DRD of $174,000. Included in that amount is a dividend of $20,000 from a large publicly-traded domestic corporation. Red also made a $25,000 cash contribution to a qualified charitable organization. The contribution is not included in the net income amount given. What is taxable income of Red Corporation?
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