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a) $567,750 b) $617,054 c) $615,062 d) $141,948 Assume that Puritan Corporation operates in an industry for which NOL carryback is allowed. Puritan Corporation reported
a) $567,750
Assume that Puritan Corporation operates in an industry for which NOL carryback is allowed. Puritan Corporation reported the following pretax accounting income and taxable income for its first three years of operations: Puritan's tax rate is \25 for all years. Puritan elected a loss carryback. As of December 31, 2024. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback. What would Puritan report as net income for \\( 2025 ? \\) b) $617,054
c) $615,062
d) $141,948
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