Question: During the current year, Pack Corporation reported gross income from operations of $350,000 and operating expenses of $400,000. Pack Corporation also received dividend income of

During the current year, Pack Corporation reported gross income from operations of $350,000 and operating expenses of $400,000. Pack Corporation also received dividend income of $100,000 from Smith, Inc., a domestic corporation, of which Pack is a 20% shareholder. The NOL carryover from the previous year is $5,000. What is the amount of Pack's net operating loss for the current year? A. $15,000 B. $50,000 C. $20,000 D. $10,000

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