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Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 2017 2018 2019 $ 341,000 (518, 000)

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Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 2017 2018 2019 $ 341,000 (518, 000) 700,000 Puritan's tax rate is 38% for all years. Puritan elected a loss carryback As of December 31, 2018. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback. What did Puritan report on December 31, 2018, as the deferred tax asset for the NOL carryforward? Multiple Choice

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