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A corporation has the following income during its taxable year:

Net income from operations $155,000
Wholly exempt interest $10,000
Dividents from domestic corporations (based on less than 20% stock holdings) $1,000
Domestic production activity income $155,000

Assume W-2 wages of $400,00

Compute its tax wages for the year.

Accounting Basics, Accounting

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  • Reference No.:- M948441

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