Richards Corporation has taxable income of $280,000 calculated before the charitable contribution of deduction and before its
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Question:
Richards Corporation has taxable income of $280,000 calculated before the charitable contribution of deduction and before its dividends-received deduction of $34,000. Richards makes cash contributions $35,000 to charitable organizations. What is Richards Corporation's charitable contribution deduction for the current year?
A) $24,600
B) $35,000
C) $28,000
D) $31,400
Related Book For
Taxation for Decision Makers 2014
ISBN: 9781118654545
6th edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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