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Project Description:

lehman corporation purchased a machine on january 2, 2009, for $2,000,000. the machine has an estimated 5-year life with no salvage value. the straight-line method of depreciation is being used for financial statement purposes and the following macrs amounts will be deducted for tax purposes:
2009 $400,000 2012 $230,000
2010 640,000 2013 230,000
2011 384,000 2014 116,000
assuming an income tax rate of 30% for all years, the net deferred tax liability that should be reflected on lehman's balance sheet at december 31, 2010, should be: (5 points)
deferred tax liability
current noncurrent
a. $0 $72,000
b. $4,800 $67,200
c. $67,200 $4,800
d. $72,000 $0
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Price Type: Negotiable

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