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krishna2018 krishna2018
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TLR Productions reported income before taxes of $175,000 for the years 2013, 2014, and 2015. In 2016 they experienced a loss of $400,000. TLR had a tax rate of 35% in 2013 and 2014, and a rate of 45% is 2015 and 2016. Assuming the company uses the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2016?
A) $61,250
B) $140,000
C) $162,500
D) $180,000
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Intermediate Accounting

Intermediate Accounting


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hnm123hnm123
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krishna2018 Author
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5 years ago
found this very helpful thank you
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