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For the current year, the Beech Corporation has net income on its books of $60,000, including the following items: Net capital losses $15,000 Federal income tax expense $25,000 Federal tax depreciation exceeds the depreciation deducted on the books by $5,000. What is the corporation's taxable income? A. $95,000 B. $103,000 C. $66,000 D. $90,000 E. None of these choices are correct.

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Accounting Basics, Accounting

Category:- Accounting Basics
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