The Glass Corporation has $156,000 of income from operations. It has a $21,000 capital loss and a
Question:
The Glass Corporation has $156,000 of income from operations. It has a $21,000 capital loss and a net operating loss from the prior year of $36,000. What is its income tax liability for the year?
a. $53,040
b. $44,090
c. $30,050
d. $21,910
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Related Book For 
Taxation For Decision Makers 2018
ISBN: 9781119373735
8th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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