Thompson Corporation has a discontinued operation gain of $45,000 and a 28% tax rate. What is the effect on net income? a. Increase of $32,400 b. Increase of $45,000 c. Increase of $12,600 d. No effect

Thompson Corporation has a discontinued operation gain of $45,000 and a 28% tax rate. What is the effect on net income? a. Increase of $32,400 b. Increase of $45,000 c. Increase of $12,600 d. No effect

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

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