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Use the following information for questions 4 and 5. Operating income and tax rates for C.J. Companys first three years of operations were as follows:

Use the following information for questions 4 and 5. Operating income and tax rates for C.J. Companys first three years of operations were as follows: Income _ Enacted tax rate 2014 $300,000 40% 2015 ($750,000) 40% 2016 $1,260,000 40% Assuming that more likely than not half of the deferred tax asset will not be realized, what is the amount of net income/loss that should be reported in 2015? $(750,000) $(300,000) $(600,000) $(450,000)

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