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ssume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell Company had the following operating results: Year Income
ssume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell Company had the following operating results: Year Income (loss) Tax rate Income tax 2018 40,000 25 % 10,000 2019 40,000 25 % 10,000 2020 50,000 30 % 15,000 2021 (130,000 ) 30 % 0 What is the Deferred tax Asset in 2021? A) $30,000 B) $90,000 C) $22,500 D) $12,000
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