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You are analyzing a business with the following financial information. Sales $1,200,000 Expenses $850,000 Municipal Bond Interest Income $120,000 Calculate taxable income. a. $350,000 b.$470,000

You are analyzing a business with the following financial information.

Sales $1,200,000

Expenses $850,000

Municipal Bond Interest Income $120,000

Calculate taxable income.

a. $350,000

b.$470,000

c.$730,000

d.$230,000

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