Question: In 2 0 2 4 , T Corporation changed its tax year from ending each April 3 0 to ending each December 3 1 .

In 2024, T Corporation changed its tax year from ending each April 30 to ending each December 31. The corporation earned $60,000 during the period May 1,2024, through December 31,2024. The annualized income for the short year is $90,000. True False

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