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Determine the accumulated earnings taxable income

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Question - Sunset Animal Clinic, Inc. has $120,000 of taxable income for this year and paid $20,000 federal income tax on its taxable income. It has charitable contribution of $20,000 to be carry forwarded in next year. It also has dividend-receive deduction of $15,000 and net operating loss deduction of $18,000. Determine the accumulated earnings taxable income?

A. $133,000

B. $113,000

C. $173,000

D. $67,000

Reference no: EM133165283

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