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Business, 14.04.2020 19:59 iamhayls

Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $200 million of pretax accounting and taxable income in the current year. The income tax rate for all previous years was 33%. On January 1 of the current year, a new tax law was enacted, reducing the rate to 29% effective immediately. Fama's income tax payable for the current year would be: (Round your answer to the nearest whole million.)

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Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $200...

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