The compensation paid by Purple Corporation to the plan participants of a profit sharing plan in 2014 was $38,300.During 2014,Purple Corporation contributed $10,000 to the plan.Purple's deductible amount for 2014 is what amount,if any?
A) $0
B) $7,660
C) $9,575
D) $10,000
E) None of these
Correct Answer:
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