Johnson Corporation's 2016 business operating income is $200,000.Johnson also recognizes an $8,000 Section 1231 loss,an $11,000 Section 1231 gain,and a $5,000 long-term capital loss from the sale of investment securities.What is Johnson Corporation's 2016 taxable income?
A) $195,000
B) $198,000
C) $200,000
D) $203,000
E) $211,000
Correct Answer:
Verified
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