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Dexter Corporation Reports the Following Results for the Current Year

question 90

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Dexter Corporation reports the following results for the current year:
Gross income from operations $90,000
Dividends from less than 20%-owned corporations 50,000
Operating expenses 75,000
Charitable contributions 10,000
In addition, Dexter has a $25,000 NOL carryover from the preceding tax year. What is Dexter's taxable income for the current year?

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