During 2014, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating...
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Accounting
During 2014, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating expenses of $370,000, a short-term capital loss of $25,000, and a long-term capital gain of $80,000. How much is Sparrow's tax liability for 2014?
$46,100
$59,300
$69,050
$76,050
None of the above
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