Cloud Corporation has a taxable income of $100,000 in 2017 along with a $30,000 general business credit. What is the amount of its credit carryover and the last year to which the carryover could be used?
A) $70,000, 2037
B) $7,750, 2037
C) $7,750, 2026
D) $13,125, 2037
Correct Answer:
Verified
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