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In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2010.

Taxable income

Purple Corporation $65,000

Azul Corporation 210,000

Pink Corporation 335,000

Turquoise Corporation 5,100,000

Teal Corporation 19,500,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M949016

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