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During the current year, Woodson paid $9,000 which it owed from its prior year income tax liability and $60,000 for its current year tax liability.
During the current year, Woodson paid $9,000 which it owed from its prior year income tax liability and $60,000 for its current year tax liability. The company still owes $12,000 at the end of the current year. How much should the company report as cash paid for income taxes on its statement of cash flows for the current year?
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