Exercise 1 3 1 7 ( A l g o r i t h m i c ) ( L O 1 , 4 ) Prance, Inc , earned pretax book net income o f $ 1 , 2 0 1 , 0 0 0 i n 2 0 2 3 During the year, Prance acquired a depreciable asset Book depreciation for the year was $ 1 2 0 , 1 0 0 while cost recovery for tax purposes was $ 1 6 0 , 0 0 0 I n 2 0 2 4 , Prance reports $ 8 4 0 , 7 0 0 o f pretax book net income, and the book depreciation o n the asset acquired i n 2 0 2 3 was $ 8 0 , 0 0 0 while cost recovery for tax purposes was $ 3 0 , 0 2 5 Prance reports n o other temporary o r permanent book tax differences Assume the pertinent U S Federal corporate income tax rate i s 2 1 and Prance earned a n after tax rate o f return o n capital o f 4 Enter below the 2 0 2 4 Prance's deferred tax benefit o r expense and total tax expense that should b e reported o n its 2 0 2 3 balance sheet I f a n amount i s zero, enter 0 I f required, round your answer t o the nearest whole value a Deferred tax benefit o r expense $ x b Total tax expense c I n net present value terms, what has been the value t o Prance o f accelerating $ 3 0 , 0 2 5 o f 2 0 2 4 book depreciation t o 2 0 2 3 The present value factor a t 8 i s 0 9 6 1 5 $

Question

Exercise 1 3   1 7 ( A l g o r i t h m i c ) ( L O   1 , 4 ) Prance, Inc , earned pretax book net income o f $ 1 , 2 0 1 , 0 0 0 i n 2 0 2 3   During the year, Prance acquired a depreciable asset  Book depreciation for the year was $ 1 2 0 , 1 0 0 while cost recovery for tax purposes was $ 1 6 0 , 0 0 0   I n 2 0 2 4 , Prance reports $ 8 4 0 , 7 0 0 o f pretax book net income, and the book depreciation o n the asset acquired i n 2 0 2 3 was $ 8 0 , 0 0 0 while cost recovery for tax purposes was $ 3 0 , 0 2 5   Prance reports n o other temporary o r permanent book   tax differences  Assume the pertinent U   S   Federal corporate income tax rate i s 2 1   and Prance earned a n after   tax rate o f return o n capital o f 4     Enter below the 2 0 2 4 Prance's deferred tax benefit o r expense and total tax expense that should b e reported o n its 2 0 2 3 balance sheet  I f a n amount i s zero, enter   0     I f required, round your answer t o the nearest whole value  a   Deferred tax benefit o r expense $ x b   Total tax expense c   I n net present value terms, what has been the value t o Prance o f accelerating $ 3 0 , 0 2 5 o f 2 0 2 4 book depreciation t o 2 0 2 3   The present value factor a t 8   i s 0   9 6 1 5   $

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Question: Exercise 1 3 - 1 7 ( A l g o r i t h m i c ) ( L O . 1 ,

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