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Find the corporations current earnings and profits

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Question - Abbot Corporation reported a net operating loss of $520,000 in 20X3, which the corporation elected to carryforward to 20X4. Included in the computation of the taxable loss was regular depreciation of $220,000 (E&P depreciation is $45,000), first year expensing under §179 of $62,000, and a dividends received deduction of $11,200. Find the corporation's current earnings and profits for 20X3?

Reference no: EM132544275

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