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How much tax will byc pay in year two

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Reference no: EM132812885

Problem 1: In its first year of existence, BYC Corporation (a C corporation) reported a loss for tax purposes of ($40,000). How much tax will BYC pay in year 2 if it reports taxable income from operations of $35,000 in year 2 before any loss carryovers?

Reference no: EM132812885

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