RECOMMENDED!!ACC 407-Crowley Corporation has the following income during the current year

  

Crowley Corporation has the following income during the current year:Net income from operations $120,000Dividends received from 10% owned corporation $ 30,000Dividends received from 25% owned corporations $ 10,000Dividends received from 85% owned corporations $ 40,000What is the amount of the corporation’s taxable income? (Show calculations)

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