Puritan Corp. reported the following pretax accounting income and taxable income for its first three...
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Accounting
Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations:
2017
$
346,000
2018
(568,000
)
2019
798,000
Puritan's tax rate is 33% for all years. Puritan elected a loss carryback. As of December 31, 2018. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback. What would Puritan report as net income for 2019?
Multiple Choice
$617,554.
$621,562.
$534,660.
$176,448.
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