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Mandarini Mandarini
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7 years ago
Power Corporation reports the following results:

Service income (not passive income)   $40,000
Dividend income   30,000
Interest income   60,000
Passive income-related expenses   20,000
Other expenses   50,000

At the end of the year, Power's Subchapter C E&P is $50,000. What is Power Corporation's excess net passive income and its excess net passive income tax for the 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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RimounRimoun
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7 years ago
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Mandarini Author
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6 years ago
Definitely recommend this tutor and website!

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