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Hippo, Inc., a calendar year C corporation, manufactures golf gloves. For 2010, Hippo had taxable income (before DPAD) of $800,000, qualified domestic production activities income of $950,000, and W-2 wages related to qualified production activities income of $130,000. Hippo's domestic production activities deduction for 2010 is:
a) $0.
b) $65,000.
c) $72,000.
d) $85,500
Which of the following is not a required consideration regarding due professional care when choosing to perform an internal auditing consulting engagement?
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In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
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