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A film began operations in 20 times 4. Its taxable income and pretax accounting income history is as follows. Negative amounts are in parentheses. Through
A film began operations in 20 times 4. Its taxable income and pretax accounting income history is as follows. Negative amounts are in parentheses. Through the end of 20 times 6 the firm has only permanent differences, but the entire difference between the 20 times 7 income amount above pertains to unearned revenue. The firm chooses the carry back, carry forward option in 20 times 7. Assume sufficient future taxable income for realization of the tax benefit of the NOL Cf. Compute the income tax benefit recognized in the 20 times 7 tax accrual JE assuming no further changes in the tax rate. a. 6, 750 b. 11, 550 c. 9, 600 d. 12,000 e. 5, 850
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