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Garner Grocers began operations in 2011. Garner has reported the following levels of taxable income (EBT) over the past several years. The corporate tax rate
Garner Grocers began operations in 2011. Garner has reported the following levels of taxable income (EBT) over the past several years. The corporate tax rate was 34 percent each year. Assume that the company has taken full advantage of the tax code's carryback, carryforward provisions, and assume that the current provisions were applicable in 2011 What is the amount of taxes the company paid in 2014? Taxable Income Year 2011 -3,200,000 2012 $ 200,000 2013 $ 500,000 2014 2,800,000
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