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What is the taxable income

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Question - The following question has to do with federal taxation:

Jasmine Corporation has ordinary income from operations of $60,000, net long-term capital gain of $20,000, and net short-term capital loss of $25,000. What is the taxable income for 2008?

a. $55,000.

b. $57,000.

c. $60,000.

d. $80,000.

e. None of the above.

Reference no: EM131766024

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