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The following information for JMR Corporation is available: Year Taxable Tax Income taxes Income Rate Paid 20x11 $30,000 40% $12,000 20x12 $90,000 38% $34,200 20x13
The following information for JMR Corporation is available:
| Year | Taxable | Tax | Income taxes |
| |||
|
| Income | Rate | Paid | ||||
| 20x11 | $30,000 | 40% | $12,000 | ||||
| 20x12 | $90,000 | 38% | $34,200 | ||||
| 20x13 | $85,000 | 38% | $32,300 | ||||
| 20x14 | $(125,000) | 35% | - | ||||
The taxes recovered for the year ended 20x14 amounted to:
Question 14 options:
|
| $150,000 |
|
| $0 |
|
| $48,100 |
|
| 43,750 |
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