Compute the corporations net capital loss

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Reference no: EM133328200

Question: RLC Limited had a large allowable capital loss of $77,625 on one transaction during its current taxation year ended December 31. In addition, the following information pertains to its situation for the current taxation year: Income from business 232,875 Income from property 25,500 Taxable capital gain 7,050 Allowable business investment loss (not included in above allowable capital loss) (12450)

REQUIRED: Compute the corporation's net capital loss for the current year.

Reference no: EM133328200

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