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Red Corporation, a calendar year taxpayer, has taxable income of $600,000. Among its transactions for the year are the following:
Collection of proceeds from insurance policy on life of corporate officer (in excess of cash surrender value) $10,000Realized gain (not recognized) on an involuntary conversion 5,000Nondeductible fines and penalties 35,000
Disregarding any provision for Federal income taxes, Red Corporation's current E & P is:
a. $565,000.
b. $575,000.
c. $580,000.
d. $650,000.
e. None of the above.
Considering other things are held constant...how do each of the following three scenarios would affect the payout ratio of a firm?
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what amount of gain or a loss did she experience on the 50,000 pesos she held during her visit and converted to u.s. dollars at the departure date?
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