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In the first two years of operations a company reported taxable income of $200,000 and $250,000 the tax rate were 30% and 35% respectively. It

In the first two years of operations a company reported taxable income of $200,000 and $250,000 the tax rate were 30% and 35% respectively. It is now the end of the third year and the company has a loss if $260,000 The company carries the losses to the earliest year possible. tax rate currently is 40% the amount of income tax receivable in the current year is ?

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