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Business, 20.11.2019 21:31 aaivey9815

Before considering a net operating loss carryforward of $87 million, fama corporation reported $130 million of pretax accounting and taxable income in the current year. the income tax rate for all previous years was 36%. on january 1 of the current year, a new tax law was enacted, reducing the rate to 28% effective immediately. fama's income tax payable for the current year would be:

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