XYZ Corporation has $100,000 of taxable income before the charitable donations deduction and the U.S...
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Accounting
XYZ Corporation has $100,000 of taxable income before the charitable donations deduction and the U.S domestic production activities deduction. Total charitable contributions for the year were $20,000 and the U.S. domestic production income was $50,000. What is the corporation's taxable income after the charitable contributions and U.S. domestic production activities deductions?
$85,5000
$75,500
$30,000
$100,000
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