Bradshaw Beverages began operations in 2010.The table below contains the company's taxable income during each year of its operations.Notice that the company lost money in each of its first three years.The corporate tax rate has been 40% each year. Assume that the company has taken full advantage of the Tax Code's carry-back,carry-forward provisions,and assume that the current provisions were applicable in 2010.How much did the company pay in taxes during 2014?
A) $160,000
B) $168,000
C) $176,400
D) $185,220
E) $194,481
Correct Answer:
Verified
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