Exercise 20-18 (Algorithmic) (LO. 2) The Hosta Trust reports gross rent income of $118,400, expenses...
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Exercise 20-18 (Algorithmic) (LO. 2) The Hosta Trust reports gross rent income of $118,400, expenses attributable bonds of $29,600, under the trust agreement, the trustee is to pa a qualifying charitable organization. If required, round any division to two decimal places. Round your final answer to the nearest dollar The charitable contribution deduction allowed for 2016 is to the rents of $82,880, and tax-exempt interest from state y 20% of the annual trust accounting income to the American Red Cross
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