For the current year ($ in millions), Centipede Corp. had $152 in pretax accounting income. This included warranty expense of $6 and $16 in depreciation expense. 1 million of warranty costs were incurred, and depreciation deductions in the tax retum amounted to $39. In the absence of other temporary or permanent differences, what was Centipede's income tax payable currently, assuming a tax rate of 25%? Multiple Choice 301 Million 476 Million 33.5 Million

For the current year ($ in millions), Centipede Corp. had $152 in pretax accounting income. This included warranty expense of $6 and $16 in depreciation expense. 1 million of warranty costs were incurred, and depreciation deductions in the tax retum amounted to $39. In the absence of other temporary or permanent differences, what was Centipede's income tax payable currently, assuming a tax rate of 25%? Multiple Choice 301 Million 476 Million 33.5 Million

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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