In 2019, Auto USA Inc. recorded $550,000 of net book income before federal taxes, including $27,000 of interest income f

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answerhappygod
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In 2019, Auto USA Inc. recorded $550,000 of net book income before federal taxes, including $27,000 of interest income f

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In 2019, Auto USA Inc. recorded $550,000 of net book incomebefore federal taxes, including $27,000 of interest income fromtax-exempt bonds, $30,000 of charitable contributions, net capitalgain of $10,000 and $15,000 in dividend income from a 15% ownedcorporation. In addition Auto USA computed that the MACRSdepreciation for 2019 exceeds the book depreciation by $38,000.
What is Auto USA's taxable income when it files its return?
Please explain step by step of the calculation. and the reasonyou are picking the numbers..
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