In 2014, Dan's Donuts reported current tax expense of $290,000, deferred tax expense of $50,000, deferred tax assets of $150,000, and deferred tax liabilities of $200,000, and pre-tax income of $1,000,000. What is your best estimate of the amount of income tax Dan will pay this year in relation to his 2014 operations? Note: If you think the answer

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In 2014, Dan's Donuts reported current tax expense of $290,000, deferred tax expense of $50,000, deferred tax assets of $150,000, and deferred tax liabilities of $200,000, and pre-tax income of $1,000,000. What is your best estimate of the amount of income tax Dan will pay this year in relation to his 2014 operations? Note: If you think the answer is twenty-two thousand, enter 22,000. If you think the answer is a negative twenty-two thousand, enter -22,000.

Expert Answer

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