Question: An entity has no temporary or permanent differences. It's accounting and taxable income history is as follows: Year Accounting / Taxable Income Tax Rate 20x1

An entity has no temporary or permanent differences. It's accounting and taxable income history is as follows: Year Accounting / Taxable Income Tax Rate 20x1 490,000 35% 20x2 310,000 36% 20x3 680,000 36% 20x4 100,000 37% 20x5 -2,700,000 38% 20x6 1,300,000 40% What is the recovery of income taxes in 20x5? Answer: (393,400) is this answer correct? and how can I get this answer? Thank you

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