Hippo, Inc

question 18

Multiple Choice

Hippo, Inc., a calendar year C corporation, manufactures golf gloves.For 2012, Hippo had taxable income (before DPAD) of $900,000, qualified domestic production activities income of $750,000, and W-2 wages related to qualified production activities income of $140,000.Hippo's domestic production activities deduction for 2012 is:

• A)$0.
• B)$12,600.
• C)$67,500.
• D)$70,000.
• E)None of the above.

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Definitions:

Phonological Loop

A component of working memory responsible for the storage and manipulation of verbal and auditory information.

Episodic Memory

The aspect of memory that involves the recall of specific events, situations, and experiences.

Semantic Memory

A type of long-term memory involving the capacity to recall concepts, facts, and knowledge about the external world, independent of personal experience.

Retrograde Amnesia

The inability to recall events that occurred prior to a traumatic event.