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Akram owns an S corporation that has generated a $10,000 loss in its first year. Akram has other forms of ordinary income available to offset
Akram owns an S corporation that has generated a $10,000 loss in its first year. Akram has other forms of ordinary income available to offset these losses totaling $80,000. Assuming Akram's tax rate is 35% and a corporate rate of 21%, how much tax will Akram pay on his income assuming there are no other loss limitations?
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