Pluto Corporation Contributes $30,000 to Qualified Charitable Organizations During 2013

question 28

Multiple Choice

Pluto Corporation contributes $30,000 to qualified charitable organizations during 2013.Pluto's 2013 taxable income before any charitable contribution deduction is $280,000.Included in that amount is a $10,000 dividend-received deduction amount.Pluto also has a carryover charitable contribution of $2,000 from 2012.What is the maximum amount Pluto Corporation can deduct as a charitable contribution for 2013?

• A)$ - 0 -
• B)$28,000
• C)$29,000
• D)$30,000
• E)$35,000

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Definitions:

Cost Information

Data about the expenses involved in producing goods or services, used for budgeting, pricing, and financial analysis.

Cost Drivers

Factors that cause a change in the cost of an activity or production, such as labor hours or machine usage.

Facility-level Costs

Expenses that are not directly tied to a specific product or service but are necessary for the overall operation of a facility.

Overhead Cost

Indirect expenses related to the day-to-day running of a business, such as rent, utilities, and administrative costs.