Determine the corporations income tax liability

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Reference no: EM13864719

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 2014.

Tax Income

Purple Corp $65,000

Azul Corp $290,000

Pink Corp $12,350,000

Turquoise Corp $19,000,000

Teal Corp $130,000

(a personal service corporation)

Reference no: EM13864719

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