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Please show workings for each question. 1. Salinger Software was founded in 2015. The company lost money each of its first three years, but was

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Please show workings for each question. 1. Salinger Software was founded in 2015. The company lost money each of its first three years, but was able to turn a profit in 2018. Salinger's operating income (EBIT) for its first four years of operations is reported below. Year EBIT 2015 -$100,000,000 2016 - $150,000,000 2017 -$100,000,000 2018 $700,000,000 The company has no debt, so operating income equals earnings before taxes. The corporate tax rate has remained constant at 35%. Assume that the company took full advantage of the carry-back, carry-forward provisions in the Tax Code, and assume that the current provisions were applicable in 2015. How much tax did the company pay in 2018? a. $132,300,000 b. $121,275,000 c. $101,675,000 d. $135,975,000 e. $122,500,000

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