Bradshaw Beverages began operations in 2008. The table below contains the compan

Question

Bradshaw Beverages began operations in 2008. 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. Year Taxable Income 2008 -$ 700,000 2009 -$ 500,000 2010 -$ 200,000 2011 $ 800,000 2012 $1,000,000 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 2008. How much did the company pay in taxes during 2012? Answer $160,000 $168,000 $176,400 $185,220 $194,481

Explanation / Answer

$160,000

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