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Which of the following statements is incorrect with respect to computing current E & P? a. All tax-exempt municipal bond interest income should be subtracted
Which of the following statements is incorrect with respect to computing current E & P?
a. All tax-exempt municipal bond interest income should be subtracted from taxable income. b. The dividends received deduction should be added back to taxable income. c. Current year charitable contributions in excess of the 10% of taxable income limit should be subtracted from taxable income. d. Federal income tax refunds received should be added to taxable income. e. None of the above statements are incorrect.
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