Question: In its first year, Camco, Incorporated generated a $ 1 1 2 , 0 0 0 net operating loss, and it made a $ 7

In its first year, Camco, Incorporated generated a $112,000 net operating loss, and it made a $7,000 cash donation to a local charity. In its second year, Camco generated a $240,600 profit, and it made a $10,400 donation to the same charity.
Required:
Compute Camcos taxable income for its second year.

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