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$[$The following information applies to the questions displayed below.$]$

WCC Corporation has a $$215,000$ net operating loss carryover to $2023$ from a previous year. Assume that it reported $$98,000$ of taxable income in $2023($before the net operating loss deduction$)$ and $$145,000$ of taxable income in $2024($before the net operating loss deduction$).$

Note: Leave no answer blank. Enter zero if applicable.

a$.$ What is WCC$\text{'}$s taxable income in $2023$ and $2024($after the net operating loss deduction$),$ assuming the $$215,000$ NOL carryover originated in $2017?$

$\backslash$table$[[$Year$,$Taxable Income$],[2023,],[2024,]]$

$!$

Required information

$[$The following information applies to the questions displayed below.$]$

WCC Corporation has a $$215,000$ net operating loss carryover to $2023$ from a previous year. Assume that it reported $$98,000$ of taxable income in $2023($before the net operating loss deduction$)$ and $$145,000$ of taxable income in $2024($before the net operating loss deduction$).$

Note: Leave no answer blank. Enter zero if applicable.

b$.$ What is WCC$\text{'}$s taxable income in $2023$ and $2024($after the net operating loss deduction$),$ assuming the $$215,000$ NOL carryover originated in $2020$ and WCC elected to forgo the NOL carry back option?

$\backslash$table$[[$Year$,$Taxable Income$],[2023,],[2024,]]$

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