Alpha Corporation Had Income from Operations of $30,000

question 31

Multiple Choice

Alpha Corporation had income from operations of $30,000.What is the corporation's taxable income including the following property transactions: Gain on investment stock = $8,000;loss on machinery held three years = $6,000;$4,000 loss on equipment held 10 months;$4,000 gain on land used for six years for storage of trucks.

• A)$25,000
• B)$27,000
• C)$30,000
• D)$32,000

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