Question: Suppose that on December 2 2 , 2 0 2 3 Congress increased the corporate tax rate from 2 1 percent to 2 5 percent

Suppose that on December 22,2023 Congress increased the corporate tax rate from 21 percent to 25 percent effective in 2024. The tax rate change will affect only deferred tax assets and liabilities that arise in 2024 and thereafter.

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