Prance, in Problem 3, reports $600,000 of pretax book net income in 2017. Prance's book depreciation exceeds
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Prance, in Problem 3, reports $600,000 of pretax book net income in 2017. Prance's book depreciation exceeds tax depreciation that year by $20,000. Prance reports no other temporary or permanent book-tax differences. Assuming that the pertinent U.S. tax rate is 35%, compute Prance's total income tax expense, current income tax expense, and deferred income tax expense?
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Related Book For
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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