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solution please Problem 8. A taxpayer had the following data: 2020 70,000 2021 100,000 Net Income (Loss) before bad debt expense (Bad debt expense) Recovery

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Problem 8. A taxpayer had the following data: 2020 70,000 2021 100,000 Net Income (Loss) before bad debt expense (Bad debt expense) Recovery of accounts written off (90,000) 80,000 Q1. Assuming the taxpayer was a domestic corporation, what is the taxable income in 2021? Q2. Assuming the taxpayer was a domestic corporation with 80% change in its shareholders in 2020, what is the taxable income in 2021? Q3. Assuming the taxpayer was exempt BMBE in 2020 but became taxable BMBE in 2020, what is the taxable income in 2021

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