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Problem 3-37(10. 1,3) Jonathan owns 100% of Lemon Company a calendar year entity. In the current year, como recognizes a long

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Calculation Tax on long-term capital gain
(a) If Lemon is an LLC : The tax on the $70000 long-term capital gain $70000 * 20% $14000
(b) If Lemon is a C corporation : The tax on the $70000 long-term capital gain $70000 * 21% $14700
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