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Compute taxable income for the year

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Reference no: EM132511959

X Corporation has book income before taxes of $600,000 and you are provided with the following information for the year:

  1. Included dividends from a 20% owned Sub $100,000
  2. Tax Exempt Municipal Interest $160,000
  3. Depreciation: Per Books $100,000 Tax $200,000

Question 1: Compute Taxable Income for the year.

Reference no: EM132511959

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