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Tachibana Corporation has income per books before tax of $286,000. In computing incomeper books, Tachibana deducted $20,000 for meals and entertainment expenses, $3,000 for premiums
Tachibana Corporation has income per books before tax of $286,000. In computing incomeper books, Tachibana deducted $20,000 for meals and entertainment expenses, $3,000 for premiums onofficers' life insurance policies (the corporation is the beneficiary for these policies), and $100 for fines.What is Tachibana Corporation's taxable income?
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