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WCC Corp. has a $135,000 net operating loss carryover into 2020. Assume that it reported $82,000 of taxable income in 2020 (before the net operating

WCC Corp. has a $135,000 net operating loss carryover into 2020. Assume that it reported $82,000 of taxable income in 2020 (before the net operating loss deduction) and $65,000 of taxable income in 2021 (before the net operating loss deduction). (Leave no answer blank. Enter zero if applicable.)

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a. What is WCC's taxable income in 2020 and 2021 (after the net operating loss deduction), assuming the $135,000 NOL carryover originated in 2016? Year Taxable Income 2020 2021 b. What is WCC's taxable income in 2020 and 2021 (after the net operating loss deduction), assuming the $135,000 NOL carryover originated in 2019? Year Taxable Income 2020 2021 c. Assuming the $135,000 NOL carryover originated in 2019, what is WCC's book-tax difference associated with the NOL in 2020 and in 2021 and identify the book tax difference for each year as permanent or temporary? Book-tax difference 2020 Book-tax difference 2021

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