Question: For the ten-year period, 2002-2011: Applying the carryback provisions in the tax law, compute the net amount of taxes paid (amounts paid less refunds) for
For the ten-year period, 2002-2011:
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Applying the carryback provisions in the tax law, compute the net amount of taxes paid (amounts paid less refunds) for the ten-year period ending December 31,2011
Income (Loss Income Tax Rate Income Tax Paid Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 50% 50 48 48 45 S 16,000 $8,000 (40,000) 16,000 24,000 (32,000) 16,000 32,000 64,000 80,000 (16,000) 7680 11,520 6,720 13,440 21,760 27,200 34 30
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