Reference no: EM133019846
Question - Star Corp., a publicly traded, accrual-method C corporation, had the following income in 2020:
Revenue from sales: $10,000,000
Muni bond interest: $101,691
Corporate bond interest: $188,182
Star Corp. incurred the following expenses in 2020 (all of which are ordinary and neccessary):
Office rent: $139,906
CEO compensation: $1,183,748
Client entertainment: $148,800 (100% of the amount paid)
Meals: $210,882 (100% of the amount paid)
Advertising: $120,556
Federal income taxes: $1,303,926
What is Star Corp.'s total taxable income for the year? Round your answer to the nearest whole dollar.
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