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The federal corporate income tax rate is 3 5 percent and firms may carry - back losses for two years and carry - forward losses
The federal corporate income tax rate is percent and firms may carryback losses for two years and carryforward losses for years. The carryback must occur before carryforward. A corporation breaks even in year earns $ in year but operates at a loss of $ in year It earns $ in year breaks even in year and earns $ in year What are the taxes paid or refunded in each year? Enter your answers as positive values. If the answer is zero, enter Round your answers to the nearest dollar.
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