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Given the following for the XYZ Company: Year 2015 2016 2017 2018 Pre-Tax Net Income (Loss) $10,000 2,000 (15,000) 12,000 Tax Rate 20% 20% 20%
Given the following for the XYZ Company: Year 2015 2016 2017 2018 Pre-Tax Net Income (Loss) $10,000 2,000 (15,000) 12,000 Tax Rate 20% 20% 20% 20% Assume XYZ did not elect the carryback provision in 2017 and future income was "more likely than not." 12/31/18 Income Tax Payable is: Select one: a. $2,400 b. $2,000 c. $9,000 d. $1,800 e. $0
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