Marlin Corporation reported pre-tax book income of $1,011,000. During the current year, the net reserve for guarantees
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Marlin Corporation reported pre-tax book income of $1,011,000. During the current year, the net reserve for guarantees increased by $27,200. In addition, book depreciation exceeded tax depreciation by $101,100. Finally, Marlin subtracted a deduction for dividends received of $16,100 when calculating his taxable income for the current year.
Using a 34% tax rate, what would be Marlin's current income tax expense or benefit?
Related Book For
Taxation Of Individuals And Business Entities 2023 Edition
ISBN: 9781265790295
14th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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