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Business, 02.11.2019 04:31 nauticatyson9

Brass co. reported income before income tax expense of $60,000 for 2017. brass had no permanent or temporary timing differences for tax purposes. brass has an effective tax rate of 30% and a $40,000 net operating loss carry-forward from 2016. what is the maximum income tax benefit that brass can realize from the loss carry-forward for 2017?

(a) $20,000
(b) $18,000
(c) $12,000
(d) $40,000

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Brass co. reported income before income tax expense of $60,000 for 2017. brass had no permanent or t...
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