Pane in the Glass Inc. obtained a loan for $1 million. The company paid a broker $5,000 commission for negotiating the loan. This amount was expensed in calculating net income on the income statement. What is the net adjustment we make to accounting net income in calculating NIFTP in the year the commission is paid?

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In calculating Net Income for Financial and Tax Purposes NIFTP adjustments are made to accounting ne... View the full answer