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(TCO F) Hoover, Inc. had gross receipts from operations of $230,000, operating and other expenses...

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Accounting

(TCO F) Hoover, Inc. had gross receipts from operations of $230,000, operating and other expenses of $210,000, and dividends received from a 55 percent-owned domestic corporation of $120,000. Hoover's tax position for the year is:

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