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Volunteer Corporation generated $300,000 income from the sale of goods to its customers. Volunteer also...

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Accounting

Volunteer Corporation generated $300,000 income from the sale of goods to its customers. Volunteer also sold three non-inventory assets during the year. Compute Volunteer's taxable income assuming Volunteer recognized $7,000 of recaptured ordinary income, a $23,000 net Section 1231 gain, and a net $11,000 capital loss. Assume Volunteer does NOT have any nonrecaptured Section 1231 losses from previous years

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