Calculate skys income tax refund for year three

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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 35%) .( Calculate Sky's income tax refund for Year 3.)

Reference no: EM131448385

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