Tangerine Corporation,a closely held (non-personal service)C corporation,earns active income of $400,000 in the current year.The corporation also receives $35,000 in dividends during the year.In addition,Tangerine incurs a loss of $60,000 from an investment in a passive activity.What is Tangerine's income for the year after considering the passive investment?

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The Answer of Tangerine Corporation,a closely held (non-personal service)C corporation,earns active income of $400,000 in the current year.The corporation also receives $35,000 in dividends during the year.In addition,Tangerine incurs a loss of $60,000 from an investment in a passive activity.What is Tangerine's income for the year after considering the passive investment?

Tangerine Corporation,a Closely Held (Non-Personal Service)C Corporation,earns Active Income of $400,000