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Mason Inc. reports a taxable and financial loss of $1,950,000 for 2008. Its pretax financial income for the last two years was as follows: 2006

Mason Inc. reports a taxable and financial loss of $1,950,000 for 2008. Its pretax financial income for the last two years was as follows:

2006 $900,000

2007 1,200,000

Assuming that Mason Inc. uses the carryforward provisions and that the tax rate is 25% for 2008 and 30% for all future periods affected, the amount that it reports as a net loss for financial reporting purposes in 2008 is

Group of answer choices

$1,365,000 loss.

$1,950,000 loss.

$585,000 loss.

$ -0-.

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