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Business, 09.10.2019 01:00 live4dramaoy0yf9
Media corp. is an accrual-basis, calendar-year c corporation. its reported book income included $6,000 in municipal bond interest income. its expenses included $1,500 of interest incurred on indebtedness used to carry municipal bonds and $8,000 in advertising expense. what is media's net m-1 adjustment on its form 1120, u. s. corporation income tax return, to reconcile to its taxable income?
(a) $1,500
(b) $3,500
(c) $9,500
(d) $(4,500)
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