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During their first 4 years of operations Falcon Enterprises has the following amounts of total revenues and expenses for both book and tax purposes Current
During their first 4 years of operations Falcon Enterprises has the following amounts of total revenues and expenses for both book and tax purposes Current tax law allows only loss carryforward (no carrybacks), and Falcon has a tax rate of 20% for each year. What is Falcon's Net Income (Loss) after taxes for each of the following years (1 point each): 2020: 2021
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