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  3. 3. for the year acme corporation, a california cor

3. For the year Acme Corporation, a California corporation with all of its activities in...

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Accounting

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3. For the year Acme Corporation, a California corporation with all of its activities in California, has the following sources of investment-related income: $400: Interest income from bank accounts $300: Interest income from Federal bonds $700: Interest income from State of California bonds $800: Interest income from State of New York Bonds 5900: Interest income from City of San Jose Bonds $1,200: Interest income from IBM Corporate Bonds $2,000 gain on the sale of State of California bonds to a completely unrelated party. The sales price was $10,000 and its basis in the California bonds at the time of the sale was $8.000. How much total taxable income does Acme Corp. have from the transactions above

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