Lopez Corporation has income per books before tax of $323,000.In computing income per books, Lopez deducted $20,000 for business meals, $3,000 for premiums on officers' life insurance policies (the corporation is the beneficiary for these policies) , and $100 for fines.What is Lopez Corporation's taxable income?
A) $340,100
B) $333,100
C) $336,100
D) $323,100
Correct Answer:
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