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Sheridan Company sold its licorice division resulting in a loss of $87000. Assuming a tax...

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Question

Accounting

Sheridan Company sold its licorice division resulting in a loss of $87000. Assuming a tax rate of 27%, the loss on this disposal will be reported on the income statement at what amount?

$87000

$63510

$110490

$23490

Answer & Explanation Solved by verified expert
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