Question: Can you explain this general accounting question using accurate calculation methods? A COMPANY REPORTED PRETAX BOOK INCOME OF $500,000. THIS INCLUDES FAVORABLE PERMANENT DIFFERENCES OF

Can you explain this general accounting question using accurate calculation methods?

A COMPANY REPORTED PRETAX BOOK INCOME OF $500,000. THIS INCLUDES FAVORABLE PERMANENT DIFFERENCES OF $35,000. WHAT IS THE BOOK EQUIVALENT OF TAXABLE INCOME

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