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Luther Industries Has Outstanding Tax Loss Carryforwards of $70 Million

Question 66

Multiple Choice

Luther Industries has outstanding tax loss carryforwards of $70 million from losses over the past four years.If Luther earns $15 million per year in pretax income from now on,in how many years will Luther first pay taxes?


A) 7 years
B) 2 years
C) 4 years
D) 5 years
E) 6 years

Correct Answer:

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