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In 2008, Eric Corporation reported $90,000 net income before taxes. The income tax rate for 2008 was 30 percent.
In 2008, Eric Corporation reported $90,000 net income before taxes. The income tax rate for 2008 was 30 percent. Eric had unused $60,000 new operating loss carryforward arising in 2007 when the tax rate was 35 percent. The income tax expense Eric would report for 2008 would beAnswer a. $27,000b.$6,000c. $9,000d.$10,500