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Sheridan Company sold its licorice division resulting in a loss of $98000. Assuming a tax rate of 26%, the loss on this disposal will be

Sheridan Company sold its licorice division resulting in a loss of $98000. Assuming a tax rate of 26%, the loss on this disposal will be reported on the income statement at what amount?

A. $98000

B. $72520

C. $123480

D. $25480

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