Dorsett Corporation's income tax return for 2015 shows deductions exceeding gross income by $56,800. Included in the tax return are the following items:
Net operating loss deduction (carryover from 2014): $15,000
Dividends received deduction: $6,800
What is Dorsett's net operating loss for 2015?
a. $56,800
b. $50,000
c. $41,800
d. $35,000
Answer: C
Tax
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