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QUESTION
In 2010, Bluebird Corporation had net income from operations of $80,000 and operating expenses of 30,000.
In 2010, Bluebird Corporation had net income from operationsof $80,000 and operating expenses of 30,000. Further, Bluebird recognized a long-term capital loss of $20,000, and a short-term capital gain of $5,000. What is the taxable income to be reported by Bluebird Corporation in 2010?
