In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year 2015.
Definitions:
mRNA Strand
A single-stranded molecule in cells that carries codes from the DNA in the nucleus to sites of protein synthesis in the cytoplasm.
Ribosome
Site of protein synthesis in a cell; composed of proteins and ribosomal RNA (rRNA).
Translation
During gene expression, the process whereby ribosomes use the sequence of codons in mRNA to produce a polypeptide with a particular sequence of amino acids.
Transcription
First stage of gene expression; process whereby a DNA strand serves as a template for the formation of mRNA.
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