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Business, 13.10.2021 02:40 averiemiranda1

Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $140 million of pretax accounting and taxable income in the current year. The income tax rate for all previous years was 31%. On January 1 of the current year, a new tax law was enacted, reducing the rate to 30% effective immediately. Fama's income tax payable for the current year would be: (Round your answer to the nearest whole million.) a. $108 million.
b. $37 million.
c. $39 million.

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Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $140...
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