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Business, 06.04.2021 04:10 linaaaa0496

Wilcox Corporation reported the following results for its first two years of operation: 2020 income (before income taxes) $ 600,000 2021 loss (before income taxes) (1,700,000) There were no permanent or temporary differences during these three years. Assume a corporate tax rate of 20% for 2020 and 2021. Assuming that Wilcox elects to use the carryback provision, what is the balance in the deferred tax asset account at 12/31/2021. (Assume that any deferred tax asset recognized is more likely than not to be realized.)

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Wilcox Corporation reported the following results for its first two years of operation: 2020 income...
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