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Miller Corp. had book income (net) of $1,000,000 in 2020. The corporation's federal income tax expense was $210,000. The corporation incurred $26,000 in meal expenses in 2020 (the $26,000 is 100% of meal expenses). The corporation is entitled to a dividends received deduction of $8,000 in 2020.
Problem 1: What is the corporation's taxable income for 2020?
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