Appalachian Airlines Began Operating in 2008

question 32

Multiple Choice

Appalachian Airlines began operating in 2008. The company lost money the first year but has been profitable ever since. The company's taxable income (EBT) Assume that the company has taken full advantage of the Tax Code's carry-back, carry-forward provisions and that the current provisions were applicable in 2008. How much did the company pay in taxes in 2011?

• A) $ 688,500
• B) $ 765,000
• C) $ 800,000
• D) $ 930,000
• E) $1,023,000

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