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Hardy Inc. has an investment in available for sale securities of $50,000. This investment experienced an unrealized loss of $3,000 during the current year. Assuming a 35% tax rate, the effect of this loss on comprehensive income will be:

a. no effect

b. $50,000

c. $17,500

d. $3,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414392

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