Monroe Corporation Reported the Following Results for the Current Year

question 10

Multiple Choice

Monroe Corporation reported the following results for the current year: $\begin{array}{llcc} \text { Gross income from operations } &\$150,000 \\ \text { Operating expenses } &154,000\\ \text { Dividends from \( 30 \% \) owned domestic corporation } &100,000\\ \text { Long-term capital gain } &2,000\\ \text { Short-term capital loss} &(3,000) \\ \text { Charitable contributions } &15,000\\\end{array}$

In addition to the above, Monroe Corporation has a $5,000 NOL carryforward available from last year.What is Monroe Corporation's taxable income for the current year?

• A)$28,250
• B)$14,000
• C)$19,050
• D)$19,500

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Definitions:

Water Demand

The total quantity of water needed for various purposes, such as drinking, sanitation, agriculture, and industrial processes.

Positive Feedback

A process in which an initial change leads to further changes that reinforce the initial one, often leading to amplification of the effect.

Dams

Structures built across rivers or streams to restrict the flow of water, typically for the purposes of water storage, flood management, or electricity generation through hydropower.