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Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is :

a) $20,000 loss.

b) $60,000.

c) $20,000.

d) $40,000 loss.

Accounting Basics, Accounting

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  • Reference No.:- M939819

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