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not sure if the math is right at the top either, please help eBook Loss Carryback and Carryforward The Bookbinder Company has made $300,000 before

image text in transcribednot sure if the math is right at the top either, please help
eBook Loss Carryback and Carryforward The Bookbinder Company has made $300,000 before taxes during each of the last 15 years, and it expects to make $300,000 a year before taxes in the future. However, in 2018 the firm incurred a loss of $650,000. The firm will claim a tax credit at the time it files its 2018 income tax return, and it will receive a check from the U.S. Treasury. Show how it calculates this credit, and then indicate the firm's tax liability for each of the next 5 years. Assume a 35 tax rate on all income to ease the calculations. Enter your answers as positive values. If an amount is zero, enter". Round your answers to the nearest dollar $ $ 2017 300000 100000 Prior Years Proteamed Carry-back credit Adjusted profit Tax previously paid (359) Tax refund: Tues previously paid 2016 300000 300000 10500D 105000 105000 $ 10500D 105000 $ $ 105000 Total check from US Treasury: $ 210000 Firm's taxability 2019: $ 2020: 5 2021: $ 2022: 5 2023: 5

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