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During Year 1, the tax return of Heinlein Company showed a net operating loss of $750. The enacted tax rate for Year 1 and
During Year 1, the tax return of Heinlein Company showed a net operating loss of $750. The enacted tax rate for Year 1 and all future years is 30%, and Heinlein is not in an industry that is eligible for the carry-back option. During Year 2, Heinlein's taxable income before considering any benefit of carryforward amounts was $200. Heinlein has no other book-tax differences. What will be the amount of Heinlein's Year 2 income tax payable?
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