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Determine the corporation income tax liability

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Problem - In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2019.

Taxable Income

Purple Corporation $65,000

Azul Corporation 290,000

Pink Corporation 12,350,000

Turquoise Corporation 19,000,000

Teal Corporation (a personal service corporation) 130,000

Reference no: EM132644362

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