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Wildhorse Corporation began operations in 2019. There have been no permanent or temporary differences to account for since the inception of the business. The following
Wildhorse Corporation began operations in 2019. There have been no permanent or temporary differences to account for since the inception of the business. The following data are available Year 2019 2020 2021 2022 Enacted Tax Rate 35% 30% 25% 2096 Taxable Income $1850000 2250000 Taxes Paid $647500 675000 In 2021, Wildhorse had an operating loss of S2330000. What amount of income would be reported on 2021 income statement due to this loss assuming that it uses the carryback provision $715000 $791500 $466000 $699000
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