Multiple Choice
Elk, a C corporation, has $370,000 operating income and $290,000 operating expenses during the current year. In addition, Elk has a $10,000 long-term capital gain and a $17,000 short-term capital loss. Elk's taxable income is:
A) $63,000.
B) $73,000.
C) $80,000.
D) $90,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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