ValuCo gives you the following information: $$\begin{array} { | l | c | }
\hline \text { Current year items } & \text { Amount } \
\hline \begin{array} { l }
\text { Interest from tax-exempt bonds funding a public } \
\text { activity }
\end{array} & \$ 14,000 \
\hline 70 \text { percent dividends received deduction } & \$ 60,000 \
\hline 80 \text { percent dividends received deduction } & \$ 40,000 \
\hline
\end{array}$$ What is its ACE adjustment for the year? Is it favorable or unfavorable?

Question

ValuCo gives you the following information: $$\begin{array} { | l | c | } 
\hline \text { Current year items } & \text { Amount } \
\hline \begin{array} { l } 
\text { Interest from tax-exempt bonds funding a public } \
\text { activity }
\end{array} & \$ 14,000 \
\hline 70 \text { percent dividends received deduction } & \$ 60,000 \
\hline 80 \text { percent dividends received deduction } & \$ 40,000 \
\hline
\end{array}$$ What is its ACE adjustment for the year? Is it favorable or unfavorable?

Quizplus · Accepted Answer

The Answer of ValuCo gives you the following information: $$\begin{array} { | l | c | } 
\hline \text { Current year items } & \text { Amount } \
\hline \begin{array} { l } 
\text { Interest from tax-exempt bonds funding a public } \
\text { activity }
\end{array} & \$ 14,000 \
\hline 70 \text { percent dividends received deduction } & \$ 60,000 \
\hline 80 \text { percent dividends received deduction } & \$ 40,000 \
\hline
\end{array}$$ What is its ACE adjustment for the year? Is it favorable or unfavorable?

ValuCo Gives You the Following Information What Is Its ACE Adjustment for the Year? Is It