Problem 26-36 (LO. 5, 7) On April 3, 2019, Luis filed his 2018 income tax return, which showed a tax due of $75,000. On June 1, 2021, he filed an amended return for 2018 that showed an additional tax of $10,000. Luis paid the additional amount. On May 18, 2022, Luis filed a claim for a 2018 refund of $25,000. a. If Luis's claim for a refund is correct in amount, how much tax will he recover

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.