Grant Corporation has gross income for regular tax purposes of $75,000, which includes a net...
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Accounting
Grant Corporation has gross income for regular tax purposes of $75,000, which includes a net Sec. 1231 gain of $5,000 and a net capital gain of $10,000. Ordinary gross income for personal holding company purposes is
A) $60,000.
B) $65,000.
C) $70,000.
D) $75,000.
Please provide an explanation, thank you!
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