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2. Pale Motel, Inc., was a C corporation using a fiscal year ending April 30 for tax purposes for all tax years through April 30,

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2. Pale Motel, Inc., was a C corporation using a fiscal year ending April 30 for tax purposes for all tax years through April 30, 2020. In May 2020, the corporation made an Selection. What are the implications of the election for Pale's tax year? Explain. Also, what are some reasons for switching from a fiscal to calendar year (as some companies have been known to do)

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