Mike, an attorney, earns $200,000 from his law practice and receives $45,000 in dividends and...
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Accounting
Mike, an attorney, earns $200,000 from his law practice and receives $45,000 in dividends and interest during the year. In addition, he incurs a loss of $50,000 from an investment in a passive activity acquired three years ago. After considering the passive investment, Mike's net income for the current year is $ ?
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