LAX Inc. has the following income before income tax and estimated effective annual income tax rates for
Question:
LAX Inc. has the following income before income tax and estimated effective annual income tax rates for the first three quarters of 2024.
Required:
What should be LAX’s income tax provision in the third- quarter income statement?
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Quarter 1st 2nd 3rd Income Before Income Tax Provision $70,000 50,000 40,600 Estimated Effective Annual Tax Rate at End of Quarter 32% 32% 38%
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