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Question - During 2010, Highlander Corp., had the following income and expenses:
gross receipts 700,000
salaries 300,000
charitable contribution 60,000
capital gains 7,000
depreciation expense 28,000
dividend income 60,000
dividends received deduction 42,000
What is the amount of Highlander's Corp. charitable deduction for 2010?
A) 33,400
B) 43,900
C) 46,900
D) 60,000
E) none of the above
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