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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 an individual taxpayer, how much is the reduction in the deductions against gross revenues assuming the use of optional standard deduction?
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