Uniontown Books began operating in 2010.The company lost money its first three years of operations,but has had an operating profit during the past two years.The company's operating income (EBIT)for its first five years was as follows:
The company has no debt,and therefore,pays no interest expense.Its corporate tax rate has remained at 34% during this 5-year period.What was Uniontown's tax liability for 2014? (Assume that the company has taken full advantage of the carry-back and carry-forward provisions,and assume that the current provisions were applicable in 2010.)

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The Answer of Uniontown Books began operating in 2010.The company lost money its first three years of operations,but has had an operating profit during the past two years.The company's operating income (EBIT)for its first five years was as follows:
The company has no debt,and therefore,pays no interest expense.Its corporate tax rate has remained at 34% during this 5-year period.What was Uniontown's tax liability for 2014? (Assume that the company has taken full advantage of the carry-back and carry-forward provisions,and assume that the current provisions were applicable in 2010.)

Uniontown Books Began Operating in 2010