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What is the corporation taxable income

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Question - Alpha Corporation had income from operations of $30,000. What is the corporation's taxable income including the following property transactions? Gain on investment stock = $8,000; loss on machinery held three years = $6,000; $4,000 loss on equipment held 10 months; $4,000 gain on land used for six years for storage of trucks.

1. $25,000

2. $27,000

3. $30,000

4. $32,000

Reference no: EM131796286

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