question archive Andy's Autos Inc
Subject:FinancePrice:2.88 Bought19
Andy's Autos Inc. had a negative pretax income of ($400,000) in 2016, their first year in business. Luckily they were able to generate a pretax profit of $700,000 in 2017, and use their entire tax loss carry forward. Assuming they were in the 30% effective tax rate bracket, how much tax did they have to pay in 2017?
Purchased 19 times