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Wenger Company reported income before taxes of $600,000 and an extraordinary loss of $150,000. Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income before irregular items and extraordinary items, respectively?

a. $420,000 and $150,000.

b. $420,000 and $105,000.

c. $495,000 and $150,000.

d. $495,000 and $105,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9404508

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