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Question
. In 2018, Mays Industries taxable income was -$85,000. In 2019, its taxable income was $120,000.
Its corporate tax rate is 25%.Assume that the company takes full advantage of the Tax Codes carry-forward provision. What is the companys tax liability for 2019?
a. $14,400
b. $10,500
c. $8,750
d. $12,480
e. $13,650
Answer
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