Question: Wayne Co. had a decrease in deferred tax liability of $28 million, a decrease in deferred tax assets of $18 million, and an increase in

Wayne Co. had a decrease in deferred tax liability of $28 million, a decrease in deferred tax assets of $18 million, and an increase in tax payable of $108 million. The company is subject to a tax rate of 25%. The total income tax expense for the year was: Multiple Choice $118 million. $116 million. $146 million. $98 million.

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