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If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?
Depreciation recapture $21,000Payroll tax penalty 4,200Tax-exempt interest 5,300Nontaxable life insurance proceeds 50,000Insurance premiums paid (nondeductible) 2,800
a. $1,100.
b. $6,400.
c. $53,600.
d. $56,400.
e. None of the above.
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