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Richards Corporation has taxable income of $280,000 calculated before the charitable contribution deduction and before its dividends-received deduction of $34,000. Richards makes cash contributions of $35,000 to charitable organizations. What is Richards Corporation"s charitable contribution deduction for the current year? A. $24,600 b. $28,000 c. $31,400 d. $35,000 b, p. C:3-13.

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Category:- Accounting Basics
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