Anugraham Corp began operations in 2011 and reported accounting income
Anugraham Corp. began operations in 2011 and reported accounting income of $275,000 for the year.
Anugraham's CCA exceeded its book depreciation by $40,000. Anugraham's tax rate for 2011 and years thereafter is 35%.
In its December 31, 2011 balance sheet, what amount of future income tax liability should be reported?
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