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Suppose your firm had the following taxable income amounts: 2012 $4 million 2013 $4 million 2014 $4 million 2015 ($5 million) operating loss After you

Suppose your firm had the following taxable income amounts: 2012 $4 million 2013 $4 million 2014 $4 million 2015 ($5 million) operating loss After you "carry back" the operating loss, what is the effective taxable income for 2014?

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