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The partnership of Truman and Hanover realized the following items of income during the current tax year: Net income from operations: $65,000 Dividends received from

The partnership of Truman and Hanover realized the following items of income during the current tax year:

Net income from operations: $65,000

Dividends received from domestic corporations: $4,000

Interest income on corporate bonds: $3,000

Net long-term capital gains: $5,000

Net short-term capital gains: $1,000

Both the partners are on a calendar year basis. What is the total income which should be reported as ordinary income from business activities of the partnership for the current tax year?

a) $71,000

b) $65,000

c) $0

d) $69,000

e) none of these choices are correct

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