Question: Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $18 million as of December 31, 2021. Prewitt has a tax

Due to an error in computing depreciation expense, Prewitt Corporation overstated

Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $18 million as of December 31, 2021. Prewitt has a tax rate of 25%. Prewitt's retained earnings as of December 31, 2021, would be: (Round million answer to 2 decimal places.) Multiple Choice Understated by $4.50 million. Overstated by $4.50 million. Overstated by $13.50 million. Understated by $13.50 million

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