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What is the deductible expenses

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Reference no: EM132802403

Question - NS Corp paid the following expenses during the year: Interest for late payment of income tax - 5,000

Surcharge and compromise for the late payment of income tax - 30,000

Interest on bonds issued - 40,000

Interest on money borrowed by the company from a stockholder who owns 80% of the outstanding stock of the company - 20,000

What is the deductible expenses?

Reference no: EM132802403

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