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What are deductibility

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Jones Chemical Company manufactured pesticides that were toxic. As a result, the company has been fined $18 million. The company voluntarily set up a charitable fund with $7 million to better the environment, and the court reduced the fine from $18 million to $10 million. What are the deductibility of the $10 million fine, the $7 million payment to the foundation, and the legal fees?

Reference no: EM133239510

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