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3. A corporation has a $20,000 NOL in 2021, and has $10,000 of taxable income is 2022, $4,000 of taxable income in 2023, and $25,000

3. A corporation has a $20,000 NOL in 2021, and has $10,000 of taxable income is 2022, $4,000 of taxable income in 2023, and $25,000 of taxable income in 2024. What effect will the NOL from 2021 have on the later years' taxable income?

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