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MWC Corp. is currently in the sixth year of its existence (2020). In 2015- 2019, it reported the following income and (losses) (before net operating
MWC Corp. is currently in the sixth year of its existence (2020). In 2015- 2019, it reported the following income and (losses) (before net operating loss carryovers or carrybacks). 2015 $ (89, 090) 2016 (27,090) 2017 68,500 2018 148,500 2019 (33, 500) 2020 415,090 a. What is MWC's 2020 taxable income after the NOL deduction? 2020 taxable income after the NOL deduction b. What is its 2020 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary? Year Book-tax Favorable or Temporary or Difference Unfavorable Permanent 2020
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