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What was Karas Corporation taxable income for current year

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Problem - Before the provision for Federal income tax, Karas Corporation had book income of $400,000 for the current year. The book income included $100,000 of dividends received from a 15% owned domestic corporation. What was Karas Corporation's taxable income for the current year?

a. $300,000

b. $335,000

c. $350,000

d. $400,000

Reference no: EM132644373

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