Business, 16.04.2020 20:56, billydavey555

Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the computation of taxable income was regular depreciation of $200,000 (E&P depreciation is $60,000) and a net capital loss carryover of $20,000 from 20X2 utilized in 20X3. The corporation's current E&P for 20X3 would be:

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Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of...