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Accounting

Select one:
a.
b.
c.
d.
e.
1 point
Butter Corp., a publicly traded C corporation, reports book income of $159,462,092 in 2024. Included in the $159,462,092 is key person life insurance proceeds of $163,934
and corporate bond interest of $189,220.
Butter Corp. reports book expenses of $58,925,703 in 2024. Included in this is $46,119 in life insurance premiums on a key person life insurance policy, $2,254,711 in
compensation paid to Butter Corp.'s CEO (a covered employee), and ordinary & necessary marketing expenses of $1,356,978. The book expenses of $58925703 also
includes federal income tax expense of $18750000(assume this amount is correct) and depreciation in the amount of $1,099,629. Tax depreciation for 2024 is $1,675,528.
What is Butter Corp.'s taxable income for 2024?
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