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assume the tax rate for all c-corporations is 21%. Question 8 2.5 pts Oxford Corporation forms on January 1, 2020. It has a $700,000 net

assume the tax rate for all c-corporations is 21%. image text in transcribed
Question 8 2.5 pts Oxford Corporation forms on January 1, 2020. It has a $700,000 net operating loss (NOL) for 2020. In 2021, taxable income, calculated without the NOL deduction is $800,000. What is Oxford's NOL deduction for 2021? $640,000 $800,000 $700,000 $560,000

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