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BNC Inc., a closely held corporation, was organized in 1987. To date, it has accumulated over $10 million after-tax income. This year, BNC's taxable income is $750,000 and its federal tax is $255,000. Describe two different ways that BNC can avoid exposure to the accumulated earnings tax for the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9968347

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