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safezone safezone
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Francine Corporation reports the following income and expense items for the tax year ending December 31:

Gross receipts from sales   $55,000
Dividends received from 15%-owned domestic corporation   28,000
Expenses connected with sales   20,000

What is Francine Corporation's taxable income?
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Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

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


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