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Lamba Corporation reports the following items for book and tax purposes in its first year of operations (year 1) Required: a. Prepare the 2016 Schedule
Lamba Corporation reports the following items for book and tax purposes in its first year of operations (year 1)
Required:
a. Prepare the 2016 Schedule M-1 for Form 1120.
b. Calculate Lamba?s taxable income (the Schedule-1, line 10)
c. Calculate Lamba?s Federal tax liability (show your calculation). The tax table is in your textbook.
d. Caculate Lamba?s Federal effective tax rate. (show your calculation)
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