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What the income tax expense ryan would report

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Reference no: EM133007768

Question - In 2014, Ryan Corporation reported $85,000 net income before income taxes. The income tax rate for 2014 was 30 percent. Ryan had an unused $65,000 net operating loss carryforward arising in 2013 when the tax rate was 35 percent. What the income tax expense Ryan would report for 2014?

a. $7,000.

b. $6,000.

c. $24,600.

d. $32,000.

Reference no: EM133007768

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