You have been given the following information to calculate the taxable income for Company A. Assume that the business decided to adjust the $10,000 loss this year and carry forward the rest to next year.

• The assessable income of $100,000 and deduction of $80,000
• Exempt income $10,000
• carried forward loss of $30,000 from previous years

Select one:

a. $10,000

b. $20,000

c. $30,000

d.  No taxable income for the current year

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