Question: Classify the following transaction by determining whether the transaction is creating a temporary or permanent difference between the books and the tax return. This year

Classify the following transaction by determining whether the transaction is creating

Classify the following transaction by determining whether the transaction is creating a temporary or permanent difference between the books and the tax return. This year the corporation took depreciation expense of $1,400,000. Using the MACRs tax calculation the tax depreciation was $1,900,000. O a. Temporary O b. Permanent O c. There is no difference in the amount recognized on the book and the tax return created by this transaction

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