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QUESTION
In 2011,Bodily Corporation reported $300,000 pretax accounting income.The income tax rate that year was 30%.
In 2011,Bodily Corporation reported $300,000 pretax accounting income.The income tax rate that year was 30%.Bodily had an unused $120,000 net operating loss carryforward from 2009 when the tax payable rate was 40%.Bodily income tax payable for 2011 would be- $54,000- $42,000- $90,000- $72,000
