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  3. b. passive investment income, $100,000; expenses a

b. Passive investment income, $100,000; expenses associated with passive investment income, $70,000; gross receipts, $120,000;...

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Accounting

b. Passive investment income, $100,000; expenses associated with passive investment income, $70,000; gross receipts, $120,000; taxable income if a C corporation, $1,200; corporate Earnings and profit, $30,000.

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