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please show work for 6 & 7 6) The Harris Corporation had a taxable income of - $128,000 in 2019 and paid no tax. They

image text in transcribed please show work for 6 & 7
6) The Harris Corporation had a taxable income of - $128,000 in 2019 and paid no tax. They will carry forward their tax loss from 2019 into 2020. Their 2020 taxable income was $320,000. a) What is the actual income in 2020 on which Harris will pay taxes? b) How much tax will Harris Corp. pay in 2020? 7) In 2020, Clarion Inc. generated NOPAT of $5,000,000 from operations. Their tax rate was 21%. In addition, they also had the following other revenues and expenses: Depreciation = 20% of EBITDA Interest expense on their own debt = $400,000; Interest income from T-Bonds = $150,000; Dividend income from Ring Corp. stock = $200,000: Net capital gains from sale of stock = - $100,200 a) Compute Clarion's EBIT from operations in 2020. b) Compute Clarion's EBITDA from operations in 2020. c) Compute Clarion's taxable income in 2020, including all sources of income, and tax paid

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