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  1. business
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  3. in its rst year of operators, a company reported t

In its rst year of operators, a company reported taxable inc me of S ,000...

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Accounting

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In its rst year of operators, a company reported taxable inc me of S ,000 nits second year the company incurred a sao oloss. Dur ng these trst two years, the tax rates were 30% and 39% respectively. It is now he end of the third year, and the company a taxable income of $260 000. The company carnes losses to the ear est year possible. The tax rate is current y 40%. The amount of income tax receivable or payable in the current (third) year is A) $104,000 payable. B)527,500 receivable C) 576,500 payable. D) S16,500 payable LX0

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