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yKpoI14uk [10]
4 years ago
7

For the year ended December 31, year 3, Colt Corp. has a loss carryforward of $180,000 available to offset future taxable income

. At December 31, year 3, all available evidence concerning future profitability is positive. Assume an income tax rate of 30%. What amount of the tax benefit should be reported in Colt’s year 3 income statement?
Business
1 answer:
Reika [66]4 years ago
5 0
The answer is 234,000
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