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SWFT Essntl Tax Individ/Bus Entities 2020

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 4BCRQ

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Packard Corporation reported pretax book income of
$501,300. Included in the computation were
favorable temporary differences of $11,300,
unfavorable temporary differences of $101,300, and
unfavorable permanent differences of $90,650.
Assuming a tax rate of 34%, the Corporation's
current income tax expense or benefit would be:
a. $170,442.
b. $177,905.
c. $231,863.
d. $109,021.

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