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How much is the optional standard deduction

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Reference no: EM133138471

Question - Jackie forecasts the following for the taxable year 2023.

Gross profit from regular operations - 5,600,000

Other operating income - 400,000

Non-operating income - 50,000

Cost of Sales - 3,700,000

Deductible Expenses - 1,800,000

Assuming Jackie is a corporate taxpayer, how much is the optional standard deduction?

Reference no: EM133138471

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