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safezone safezone
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7 years ago
Dexter Corporation reports the following results for the current year:

Gross income from operations   $90,000
Dividends from less than 20%-owned corporations   50,000
Operating expenses   75,000
Charitable contributions   10,000

In addition, Dexter has a $25,000 NOL carryover from the preceding tax year. What is Dexter's taxable income for the current year?
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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strwbrrystrwbrry
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1
Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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safezone Author
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7 years ago
This calls for a celebration Person Raising Both Hands in Celebration
karamsidhu1
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Smart ... Thanks!
jodie1
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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