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eBook Video Calculator Problem 17-33 (LO. 1, 3) In the current year, Tanager Corporation (a calendar year C corporation) had operating income of $480,000 and

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eBook Video Calculator Problem 17-33 (LO. 1, 3) In the current year, Tanager Corporation (a calendar year C corporation) had operating income of $480,000 and operating expenses of $390,000. In addition, Tanager had a long-term capital gain of $55,000 and a short-term capital loss of $40,000. a. Compute Tanager's taxable income and tax for the year. Taxable income: $ 105,000 Income tax: $ 54,023 X Foodback b. Assume the same facts except that Tanager's long-term capital gain was $15,000. Compute Tanager's taxable income and tax for the year. Taxable income: $ 90,000 Income tax: Feedback Feedback eBook Video Calculator Problem 17-33 (LO. 1, 3) In the current year, Tanager Corporation (a calendar year C corporation) had operating income of $480,000 and operating expenses of $390,000. In addition, Tanager had a long-term capital gain of $55,000 and a short-term capital loss of $40,000. a. Compute Tanager's taxable income and tax for the year. Taxable income: $ 105,000 Income tax: $ 54,023 X Foodback b. Assume the same facts except that Tanager's long-term capital gain was $15,000. Compute Tanager's taxable income and tax for the year. Taxable income: $ 90,000 Income tax: Feedback Feedback

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