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Question
In 2018, Bradshaw Beverages had taxable income of -$800,000. In 2019, its taxable income is $1,250,000. Its corporate tax rate is 25%.
Assume that the company takes full advantage of the Tax Codes carry-forward provision.. How much did the company pay in taxes during 2019?
a. $392,400
b. $112,500
c. $120,000
d. $108,400
e. $234,000
Answer
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