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What is the corporations taxable income

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Reference no: EM13539806

The Jingle Corporation has income from operations of $459,000. It has dividend income of $68,000 from a corporation in which it owns 5 percent.

a. What is the corporation's taxable income?

b. How would your answer change if Jingle owns 35 percent in the corporation paying the dividend?

Reference no: EM13539806

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