Green Corporation, a closely held operating corporation, reports the following:
Taxable income $200,000
Long-term capital gain 30,000
Dividends-received deduction 20,000
Federal income taxes on long-term capital gain 11,700
Accumulated earnings credit 80,000
Federal income taxes 42,000
Calculate Green's accumulated taxable income.

Question

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The Answer of Green Corporation, a closely held operating corporation, reports the following:
Taxable income $200,000
Long-term capital gain 30,000
Dividends-received deduction 20,000
Federal income taxes on long-term capital gain 11,700
Accumulated earnings credit 80,000
Federal income taxes 42,000
Calculate Green's accumulated taxable income.

Green Corporation, a Closely Held Operating Corporation, Reports the Following