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Toliver Corporation Incurs a Long-Term Capital Loss of $38,000 and a Short-Term

Question 10

Multiple Choice

Toliver Corporation incurs a long-term capital loss of $38,000 and a short-term capital gain of $33,000. Also, Toliver has operating income of $175,000. What is Toliver's taxable income?


A) $45,000
B) $170,000
C) $172,000
D) $175,000
E) $208,000

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