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Problem 18-03 The federal corporate income tax rate is a percent and forms may carry back losses for two years and carry forward losses for

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Problem 18-03 The federal corporate income tax rate is a percent and forms may carry back losses for two years and carry forward losses for 20 years. The carry back must occur before carry forward. A corporation breaks even in year 1, carns $27.000 in year 2, but operates at a loss of $86,000 in year 2. It earns $6.000 in year 4 breaks even in year 5, and earns $38,000 in year 6. What are the taxes paid or refunded in each year? Enter your answers as positive values. If the answer is zero, entero". Round your answers to the nearest doll 3 2 5 1 $ $ $ $ $ $ $ 5 $ $ Year Taxes Tax refund or tax offset Net taxes paid 5 $

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