Multiple Choice
Elk,a C corporation,has $500,000 operating income and $350,000 operating expenses during the year.In addition,Elk has a $20,000 long-term capital gain and a $52,000 short-term capital loss.Elk's taxable income is:
A) $98,000.
B) $118,000.
C) $150,000.
D) $170,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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