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Suppose your firm had the following taxable income amounts: 2015 ($2 million) operating loss 2016 ($2 million) operating loss 2017 ($2 million) operating loss 2018

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Suppose your firm had the following taxable income amounts: 2015 ($2 million) operating loss 2016 ($2 million) operating loss 2017 ($2 million) operating loss 2018 $10 million After you "carry forward" the operating losses, what is the effective taxable income for 2018? $4 million O $3 million $0 $1 million O $2 million

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