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Southwestern Federal Income Taxation: Individual Income Taxes Pale Motel, Inc., was a C corporation using...

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Accounting

Southwestern Federal Income Taxation: Individual Income Taxes

Pale Motel, Inc., was a C corporation using a fiscal year ending April 30 for tax purposes for all tax years through April 30, 2017. In May 2017, the corporation made an S election. What are the implications of the election for Pale's tax year? Explain.

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