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WCC Corporation has a $115,000 net operating loss carryover to 2023 from a previous year. Assume that it reported $78,000 of taxable income in 2023

image text in transcribedWCC Corporation has a $115,000 net operating loss carryover to 2023 from a previous year. Assume that it reported $78,000 of taxable income in 2023 (before the net operating loss deduction) and $45,000 of taxable income in 2024 (before the net operating loss). Assuming the $115,000 NOL carryover originated in 2022, what is WCCs booktax difference associated with the NOL in 2022 and in 2023? Is it permanent or temporary?

WCC Corporation has a $115,000 net operating loss carryover to 2023 from a previous year. Assume that it reported $78,000 of taxable income in 2023 (before the net operating loss deduction) and $45,000 of taxable income in 2024 (before the net operating loss deduction). Required: a. What is WCC's taxable income in 2023 and 2024 (after the net operating loss deduction), assuming the $115,000 NOL carryover originated in 2017 ? b. What is WCC's taxable income in 2023 and 2023 (after the net operating loss deduction), assuming the $115,000 NOL carryover originated in 2022 ? c. Assuming the $115,000 NOL carryover originated in 2022 , what is WCC's book-tax difference associated with the NOL in 2023 and in 2024 ? Is it permanent or temporary? Complete this question by entering your answers in the tabs below. Assuming the $115,000 NOL carryover originated in 2022, what is WCC's book-tax difference associated with the NOL in 2022 and in 2023 ? Is it permanent or temporary? Note: Leave no answer blank. Enter zero if applicable

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