Question: During Year 2, a company identified a Year 1 error that resulted in a $132,000 overstatement of depreciation expense. The company's effective tax rate for

During Year 2, a company identified a Year 1 error that resulted in a $132,000 overstatement of depreciation expense. The company's effective tax rate for Years 1 and 2 was 30 percent. Correcting the error on the opening Year 2 balance of retained earnings will result in

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