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2. The McCarrol Brooms had the following operating results: Year Income (loss) Tax rate Income tax 2012 40,000 35% 14,000 2013 20,000 35% 7,000 2014

2. The McCarrol Brooms had the following operating results:

Year Income (loss) Tax rate Income tax

2012 40,000 35% 14,000

2013 20,000 35% 7,000

2014 50,000 40% 20,000

2015 (60,000) 40% 0

What is the income tax refund receivable?

a. $27,000

b. $24,000

c. $23,000

d. $21,000

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