The kenneth parks companys taxable income and tax, Ask an Expert

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The Kenneth Parks Company's taxable income and tax payments/liability for the years 2003 through 2008 are given below.

Year	Taxable Income ($)	Tax Payments ($)
2003	100,000	22,250
2004	50,000	7,500
2005	(150,000)	0
2006	100,000	22,250
2007	50,000	7,500
2008	50,000	7,500

Compute the Company's tax refund in 2005.

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