Toliver Corporation Incurs a Long-Term Capital Loss of $38,000 and a Short-Term

question 10

Multiple Choice

Toliver Corporation incurs a long-term capital loss of $38,000 and a short-term capital gain of $33,000. Also, Toliver has operating income of $175,000. What is Toliver's taxable income?

• A)$45,000
• B)$170,000
• C)$172,000
• D)$175,000
• E)$208,000

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