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Category > Management Posted 12 Oct 2017 My Price 5.00

Bulldog Corporation

The Bulldog Corporation had income of $15,000, $25,000, and $30,000 in 2003, 2004, and 2005, respectively. The firm pays taxes at a rate of 15%. In 2006, Bulldog sustained a loss of $20,000. What amount of refund is due the firm? (Assume that the firm can carry back losses 3 years).

I tried calculating this fashion but not sure if I did this right.

Year	Taxable Income		Taxes Paid
2003	15,000.00	15%	2,250.00
2004	25,000.00	15%	3,750.00
2005	30,000.00	15%	4,500.00
2006	(20,000.00)
			10,500.00

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Status NEW Posted 12 Oct 2017 10:10 AM My Price 5.00

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