Question: please, answer the question below. 9 Assume that Puritan Corp. operates in an industry for which NOL carryback is allowed. Puritan Corp. reported the following
please, answer the question below.


9 Assume that Puritan Corp. operates in an industry for which NOL carryback is allowed. Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 4 points 2020 2021 2022 $ 354,000 (508,000) 721,000 Skipped Puritan's tax rate is 25% for all years. Puritan elected a loss carryback. As of December 31, 2021. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback What would Puritan report as net income for 2022? 9 Multiple Choice 4 points $540,750. Skipped O $585,812. O $135,198. $582,804
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