Bamboo Corporation has $130,000 of operating income, a $20,000 long-term capital loss, a $10,000 dividend from a corporation in which it owns 5 percent of the shares, and a charitable contribution of $18,000. What is the corporation's taxable income and income tax? Identify any carryovers.

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The Answer of Bamboo Corporation has $130,000 of operating income, a $20,000 long-term capital loss, a $10,000 dividend from a corporation in which it owns 5 percent of the shares, and a charitable contribution of $18,000. What is the corporation's taxable income and income tax? Identify any carryovers.

Bamboo Corporation Has $130,000 of Operating Income, a $20,000 Long-Term