The Gayle Corporation reported a $66,000 operating loss in 2011. In the preceding three years, Gayle reported the following income before taxes and paid the indicated income taxes:
The amount of tax benefit to be reported in 2011 arising from the tax carryback provisions of the current tax code would be
A) $23,100.
B) $22,500.
C) $21,300.
D) $19,200.
Correct Answer:
Verified
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