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Calculate Redwood Corporation taxable income

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Problem - Redwood Corporation has net income reported on its books of $115,600. For the current year, the corporation had federal income tax expense of $29,400, a net capital loss of $9,100, and tax-exempt interest income of $4,700. The company deducted depreciation of $17,000 on its tax return and $13,000 on its books. Calculate Redwood Corporation's taxable income, before any net operating loss or special deductions, for the current year.

Reference no: EM132702817

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