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Orange Inc. is founded in 2022. It has net operating loss of $200,000 in 2022...

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Accounting

Orange Inc. is founded in 2022. It has net operating loss of $200,000 in 2022 and positive book earnings $500,000. In 2023, Orange Inc. has taxable income $500,000 and book income $200,000. Assuming the tax rate of the company is 30%, how much taxes should it pay in 2023?

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