Calculate skys income tax refund for year 3

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Reference no: EM131985155

Sky Company reports a pretax operating loss of $50,000 in Year 3 for both financial reporting and income tax purposes.

It's reported pretax financial income and taxable income for the previous 2 years haddock been: Year 1: $25,000 (tax rate 30%) and Year 2: $35,000 (tax rate). Calculate Sky's income tax refund for Year 3.

Reference no: EM131985155

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