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E19.21 (LO 3) (Carryforward of NOL, No Valuation Account, No Temporary Differences) The pretax financial income (or loss) figures for Jenny Spangler Company are as
E19.21 (LO 3) (Carryforward of NOL, No Valuation Account, No Temporary Differences) The pretax financial income (or loss) figures for Jenny Spangler Company are as follows. 2017 $80,000 2018 (160,000) 2019 (380,000) 2020 120,000 2021 100,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016, and a 20% tax rate for the remaining years.
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