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Fast'n'Looz is a company with a history of losing money and has a net operating loss carried forward of $400 million. It expects to generate
Fast'n'Looz is a company with a history of losing money and has a net operating loss carried forward of $400 million. It expects to generate $1 billion in taxable income next year and the marginal tax rate is 40%. How much will the company pay in taxes next year?
A) $240 million
B) $160 million
C) $400 million
D) None of the above
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