Annex Corp’s earning history over the 1st 6 (six) years of itsoperation is as follows:
Year 1 $(120,000)
Year 2 $200,000
Year 3 $130,000
Year 4 $(150,000)
Year 5 $(190,000)
Year 6 $40,000
1. Determine Annex’s net taxable income for Years 1 through 6after NOL usage and any NOL carryforward to year 7.
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