Question: For the current year, Cent Co. had $80 million in pretax book income, which included: Warranty expense of $4 million reported on the income statement;
For the current year, Cent Co. had $80 million in pretax book income, which included: Warranty expense of $4 million reported on the income statement; $0 million was actually paid for warranty claims during this year. $20 million in depreciation expense on the income statement; MACRS depreciation amounted to $35 million on the tax return. In the absence of any other temporary or permanent differences, what was ent Co.'s income tax payable for the current year, assuming a tax rate of 40%? O 27.6 million. O 39.6 million O 36.4 million 24.4 million
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