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QUESTION

Dole company, with an applicable income tax rate of 30%, reported net income of $350,000. included in income for the period was an extraordinary loss from flood damage of $80,000 before deducting the

Dole company, with an applicable income tax rate of 30%, reported net income of $350,000. included in income for the period was an extraordinary loss from flood damage of $80,000 before deducting the related tax effect. the company's income before income taxes and extraordinary items was( provide step by step explanations so that I can be able to understand the formulas used we.)

Multiple choices

A. 450,000

B. 580,000

C. 400,000

D. 430,000

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****** ****** tax *** extraordinary **** = ****** ***** *** * ****** *** * extraordinary item * ****** +(350/07)*30% +80000; ****** ************* *******

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