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Over the last five years, corporation A has been consistently profitable. Its earnings before taxes were as follow Year Earnings $1,300 $2,800 $4,100 $5,500 $4,00
Over the last five years, corporation A has been consistently profitable. Its earnings before taxes were as follow Year Earnings $1,300 $2,800 $4,100 $5,500 $4,00 a. If the corporate tax rate was 30 percent, what were the firm's income taxes for each year? Round your answers to the nearest dolar Year Taxes$ b. Unfortunately, in year 6 the firm experienced a major decline in sales, which resulted in a loss of $10,900. What impact will the loss have on the firm's taxes for each year if the permited carry back is two years? If the answer is zero, enter "O". Round your answers to the nearest dolla Taxes Total tax refund: $
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